Stock Market Top Close, 2017 Projection

Today’s rally (yesterday we called for new highs shortly) has put the S&P 500 right up against a rising tops line.  We are also in the area of the 17 week cycle top.  A 14%+ drop looks likely into February/March.  A strong 19%+ rally into late July and then a huge drop into the fall (-31%+), projects a down, up, down market for the year finishing Primary Wave 4.