I exited for the close on the 10th since we elected daily reversals on the Nasdaq and Dow. we have another daily bullish at 26966.10. This month is a panic cycle so we either move to the upside to 28k area or retest the lows made the previous month if we elect the weekly bullish at 26951.82 it should be to the upside.
August is a turning point and October is the next so a high in August implies a low in October. the week of the high/low looks like the week of the 29th or the 5th.
I'm open to being corrected however that isn't what MA classifies as a panic cycle.
A panic cycle for a nominated time period is a movement that encompasses both the high and low of the previous time period's range. In this case, if July is to be a panic month then the market needs to fall away below ~24,600 before month end. Having followed the system as a pro subscriber and reading all of the publicly available content there isn't criteria of
'if this event occurs then a panic cycle definition changes/is mitigated'.
That aside - the weekly reversals are empirically not reliable tools as has been demonstrated previously. See the bearish weekly reversals that were elected at the end of May immediately prior to the market rallying.