The market does contain cycles. However they do tend to swing in and out of favor with price action, lets review a cycle that is working.
The SP500 has dominant cycle between 30 and 40 periods, sometimes its 32 sometimes its 36, for the last few months it has been 39 periods. The cycle warns the chart watcher that a peak in price is now. Therefore not a good time for new positions.
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“Stock market technique is not an exact science. Stock (and commodities) prices are made by the minds of men (and women). Mechanical trading methods or mathematical formulas cannot compete with good human market judgment.”..
Richard D Wyckoff
..”Money couldn’t buy friends, but you got a better class of enemy”..