The S&P 500 remains in the most persistent state of disequilibrium as measured by distance
above Ichimoku Kinko Hyo's Cloud (kumo) since the pair of >21% readings at the Spring and
Summer 2011 swing highs - just prior to registering an absolute -21% peak-to-trough decline.
The current pullback toward the cloud remains the shallowest since SPX broke above its weekly
cloud: -3.34% v. an average -10.72% over the eight occurrences (qualifying historical criterion:
swing high of 10% or greater >cloud where a subsequent higher high occurs) measured.
above Ichimoku Kinko Hyo's Cloud (kumo) since the pair of >21% readings at the Spring and
Summer 2011 swing highs - just prior to registering an absolute -21% peak-to-trough decline.
The current pullback toward the cloud remains the shallowest since SPX broke above its weekly
cloud: -3.34% v. an average -10.72% over the eight occurrences (qualifying historical criterion:
swing high of 10% or greater >cloud where a subsequent higher high occurs) measured.