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SPX Cycles Long Range Projection Chart. Today the Weekly confirmed a new Bull Cycle (W-S-2) projected high 5353.73, the high is due 5/10/24. However, today at the close the Weekly is currently in W-S-1 (Weekly Short Bear Cycle) territory. So it's possible the Weekly could open Monday in an UNCONFIRMED W-S-1. For the W-S-1 to be confirmed the SPX will have to open Monday below the Weekly UTL (currently at 5137.13 and remain below the UTL until the close on Friday. If the W-S-1 is confirmed at the close on 5/10/24, the projected low will be 4852.34, the low will be due 5/10/24. However, with the 60 min 60-SC-2 (60 min Bull Super Cycle) extremely overdue with a projected high of 5182.27, I doubt the W-S-1 gets confirmed next week.
Today a new Daily & Weekly Bull Cycle has been confirmed.
SPX Cycles End of the Day Reports & Charts. Today at the close the 60 min confirmed a 60-E-1 (Overdue). Due to the confirmation of the 60-E-1 a UPRO Buy Signal is currently active, target price 59.62. This is the 8th buy signal of this UPRO Cycle, the average is 2.83 buy signals per cycle. Tomorrow at the close there is the possibility of a 60 min 60-SC-1 (due 5/17/24). If the 60-SC-1 is confirmed another UPRO Buy Signal will become active, target price 57.22, also a SPXS Sell Signal, target price 11.99.
The Daily D-SC-1 got confirmed today at the close, so the next Daily cycle has to be a Bull Cycle.
Tomorrow hopefully we get a pull back, I'd like to see the Weekly W-S-1 get confirmed on Friday, then we could blast off on Monday.
If the 60 min 60-SC-2 gets confirmed on Thursday, along with a Daily D-S-2 (Bull Cycle). They would have to exceed their projections for the W-S-1 to get negated.
If they fail to negate the W-S-1, then we could see a large drop into a new Daily Bear Cycle, and then the Weekly W-E-1 (Extreme Overdue) could come into play.
So if we can hold off on the 60-SC-2 (Extreme Overdue) & D-S-2, and get the W-S-1 confirmed at the close on Friday. Then Monday could be a huge upside getting a new Weekly Bull Cycle confirmed. All four of the Daily Bull Cycles are due between 4/30/24 to 5/25/24. There is 1 Weekly Bull Cycle currently overdue, another coming due 5/1/24 and 7/29/24. If the W-S-1 gets confirmed, that leaves only the W-E-1 (Extreme Overdue) on the bear side. So we could see new ATH in May.
The 60 min 60-SC-1 has ended, due to the confirmation of the 60-S-2.
The 4th SPXS Bear Cycle has ended today. The average cycles per year is 11.83.
This cycle only lasted 2 trading days, the average is cycle lasts 22.65 trading days.
During this cycle there was no SPXS Buy Signals (D-SC-2). I didn't add or sell any SPXS positions.
Tomorrow a new SPXS Cycle starts.
The Weekly opened today as an UNCONFIRMED W-S-1 (Overdue) projected low 4971.09, the low has been exceeded. For the W-S-1 to get confirmed the Weekly must remain below the Weekly UTL (currently at 5117.56) until the close on Friday (4/26/24). The low will be due 4/26/24.
Right now the Weekly indicators remain in W-S-1 territory, so at this point the odds of the Weekly continuing down into a W-1 is slim. For a new Weekly Bull Cycle to get confirmed this Week which would negate the W-S-1, a 60 min 60-SC-2 (Extreme Overdue) will have to get confirmed. The 60-SC-2 has a current projected high of 5122.81. So the odds of the W-S-1 getting confirmed this week are high. If the W-S-1 does get confirmed the Weekly Bull Cycle projections will be reset.
The 60 min has confirmed a 60-SC-1. Due to the 60-SC-1 confirmation a UPRO Buy Signal is currently active price target 55.23. Also a SPXS Sell Signal is active price target 12.59.
This is the 7th UPRO Buy Signal of this UPRO Bull Cycle, the average is 2.82 buy signals per cycle.
I can only add 5 UPRO positions (100 shares per position) during a UPRO Bull Cycle. I have already added 5 positions during this cycle, so I will have to wait for the cycle to end.
Yesterday when the 60 min 60-SC-1 ended, a SPXU/SPXS Bear Cycle ended. This was the 3rd SPXS Bear Cycle this year, the average per year is 11.67.
This SPXS Bear cycle lasted 40 trading days, the average is 23.98.
During this cycle there were no buy signals (D-SC-2).
I didn't buy or sell SPXS during this cycle.
A new SPXS Bear Cycle starts today.
Bought, UPRO, 100 shares at 61.54. This is due to the 60-SC-1 confirmation. This is my 5th UPRO Buy during the current UPRO Bull Cycle, which is the max I can buy during a cycle.
If we get the Weekly W-S-1 confirmed at the end of next week. The Weekly Bull Cycle projections will be reset. So we will likely see a lot higher projections going to the 6000 level.
The current end of year projected range (based on current average 60 min cycle data) has a forecast of 5285.40 to 6023.12. So far this year the 60 min bear cycles are currently averaging 53 points and the bull cycles are averaging 61 points.
Due to the confirmation today at the close of the 2nd hour of the 60 min 60-SC-1 (Extreme Overdue) projected low 4964.69. A UPRO Buy Signal is active, price target 59.16 and a SPXS Sell Signal is active, price target 11.37.
This is the 5th UPRO Buy Signal of this UPRO Bull Cycle, which averages 2.83 buy signals per cycle.
Bought, UPRO, 100 shares at 63.05. This is due to the confirmation of the 60-E-1.
Due to the 60 min 60-E-1 being confirmed at the close of the 1st hour, a UPRO Buy Signal is currently active, target price is 61.62.
SPX Cycles Long Range Projection Chart. Today the Weekly W-SC-2 has been confirmed, projected high 5072.54 (Reached), the high is due 5/17/24. However, the Weekly is currently below it's UTL (currently at 5141.16) so there is now a slight possibility of a Weekly W-S-1 at the close on 4/26/24, projected low 4971.09, the low will be due 4/26/24.
SPX Cycles Long Range Projection Chart. The SPX Weekly closed below it's UTL (currently at 5135.70) which is Bear Territory, for a Weekly Bear Cycle to be confirmed the Weekly will have to open on Monday below the Weekly UTL and remain below the UTL until the close of the week. Probably a slim chance of getting confirmed because all of the 60 min Bull Cycle projections are currently above the Weekly UTL level. If by chance at the close on 4/19/24 the Weekly confirms the W-S-1 (Overdue) projected low 4971.09, the low will be due 4/19/24. If the W-S-1 were to get confirmed that would actually be bullish, as the Weekly Bull Cycle projections would be reset to a lot higher levels. If the W-S-1 doesn't get confirmed next week, the Weekly W-SC-2 (Extreme Overdue) will, however the Weekly W-SC-2 projected high of 5072.54 has already been reached. If the W-SC-2 doesn't get confirmed, it will remain extremely overdue, which means we could go from a W-S-1 to a W-SC-2 which could be a 500 to 1000 point gain over the next 28 to 30 weeks.
Bought, UPRO, 100 shares at 65.04. This is due to the confirmation of the 60-E-1.
A 60-E-1 has been confirmed. A UPRO Buy Signal is currently active, price target 62.99.
Looks like good chance for the D-1 today at the close. A UPRO Buy Signal is possible today at the close of the 6th hour, target price 63.25.
I believe the D-1 will likely be the bottom of this Daily Bear Cycle. Monday the 60 min could confirm the extreme overdue 60-SC-1.
The Weekly will likely close today in Bear territory, but I doubt we get a Weekly Bear Cycle next week, right now all the 60 min Bull Cycle projections are above the Weekly UTL.
So we could be getting a nice Bull Rally starting Tuesday/Wednesday. The large 60 min Bull Cycle 60-E-2 & 60-SC-2 are both extremely overdue.
Bought, UPRO, 100 shares at 66.8699. This is due to the confirmation of the 60-E-1.
Due to confirmation of the 60 min 60-E-1. A UPRO Buy Signal is currently active target price is 63.35
Today SPXU had a reverse split 1:5 ratio. So now SPXU price is currently at 34.07.
So if I decide to short the SPX, I will now use SPXS which is priced at 9.24.
So I will be updating my reports accordingly.
Bought, UPRO, 100 shares at 68.67. This is due to the confirmation of the 60-E-1.
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