Weekly Cycle Map — SPX, Gold, Bitcoin, Oil
Early May 2026
Markets continue to move higher on the surface.
SPX and Bitcoin are still rising.
Gold is attempting to stabilise around its cycle low.
Oil has already had a strong move and is beginning to look later in its cycle.
The key point remains the same:
The trend is still intact in several markets, but important cycle lows still lie ahead.
This is not the phase to become aggressive.
It is the phase to stay patient and aware of where we are in the cycle.
SPX — Strength Continues, But We Are Later In The Cycle
The S&P 500 continues to trend higher.
Momentum remains constructive and price is still respecting structure. There is no confirmed breakdown yet, and for now the path of least resistance remains upward.
But this is still a later-stage cycle environment.
The next meaningful cycle low remains ahead into late May, with the larger opportunity likely forming into August or September.
