Tha daily chart below shows SPY, the S&P 500 ETF with the daily and weekly Aroon trend indicators in the indicator window. The shorter period Aroon represents the daily trend and the longer period the weekly trend. Currently Aroon Up is 100 for both of them.
As cycles are part of nature they are also part of financial markets. As prices change highs and lows repeat itself on a regular basis. Price and time cycles can help us to anticipate turning points. Normally lows are used to define cycle length and then project future cycle lows. The lenght of cycles can change over time. Cycle analysis works best if combined with other apects of technical analysis. One of the cycle characteristics is translation. Translation describes where is the peak during a cycle. Most of the time peaks occur before or after the midpoint of the cycle. Right translation occurs when the peak is after the midpoint of the cycle. Usually in a storing bull market cycles have right translation. Left translation occurs during bear markets when the cycle peaks earlier during the cycle. At market tops and bottoms peaks are closer to the midpoint. The chart below shows a possible outcome of the current market using cycle analysisfor SPY.
As you can see so far the cycles of SPY have right translation wich is bullish.