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I don't think we get any meaningful pull back until the Daily D-SC-2 is completed, the D-SC-2 is projected to be confirmed at the open on 2/21/23, projected high is 4298.10, the high will be due 3/1/23.
SPX Cycles End of the Day Reports & Charts. Tomorrow at the close of the 1st hour there is the possibility of a 60-E-1 (Overdue) projected low 4083.77, then ate the close of the 4th hour there is the possibility of a 60-SC-1 (due 12/17/23) projected low 4030.06, the low will be due tomorrow at the 7th hour.
The 60 min 60-E-1 (Overdue) & 60-SC-1 (due 2/17/23) projected low 4030.06
The 60 min 60-SC-2 (due 2/13/23) projected high 4233.24
We could either continue down and get the 60-SC-1 confirmed, then head up to the 60-SC-2 and break thru the 4200 level.
Or we could get the 60-E-1 confirmed, then head up to the 60-E-2 (due 2/9/23) projected high 4196.16, then back down to the 60-1 (due 2/12/23) then up to the 60-SC-2 which could take the SPX to the 4250 level, by the middle of the month. This scenario would put the Monthly & Quarterly well into bull territory, and we could see another 450 + points to the upside by the end of March taking the SPX to 4692.
SPX Cycles Update. Today at the close of the 5th hour the 60 min confirmed a 60-S-1 (due 2/6/23), today at the close there is the possibility of a 60 min 60-1 (due 2/12/23), Monday at the close of the 3rd hour there is the possibility of a 60-E-1 (Overdue) projected low 4083.77, the low will be due Monday at the 7th hour.
SPX Cycles Update. Today at the close of the 4th hour the 60 min confirmed a 60-E-2 (due 2/2/23), the high is due tomorrow at the 5th hour. Today there is a good chance for the Monthly to confirm a new Bull Cycle, M-S-2, projected high 4180.44 has already been reached, the high will be due 2/28/23. Keep in mind that the M-2 is overdue, projected high 5115.33 (ATH), the earliest the M-2 can be confirmed is at the close on 4/28/23, the high will be due 8/31/23.
If your wanting an E-wave guru, I would recommend Breeze on SI, he is on Da Chiefs forum "Technology Stocks & Market Talk with Don Wolanchuk"
Breeze actually posts his work.
Pokersam is not very creditable. He is more of a trouble maker than anything else. He bans anyone that disagrees with him.
SPX Cycles Update. Today during the 5th hour the 60 min confirmed a 60-S-2 (Extreme Overdue) projected high 4085.51. Today at the 6th hour there is the possibility of a 60-S-1 (due 2/6/23) projected low 4033.73. Today at the close, if the 60-S-1 is not confirmed, there is the possibility of a 60-2 (due 2/12/23) projected high 4102.19, the high will be due tomorrow at the 1st hour.
February 2023: I expect the Bulls to continue. I'm expecting a new Quarterly & Monthly Bull cycle this month. The Weekly is in W-E-2 (Overdue) territory. A Daily D-SC-2 (Overdue) could be confirmed this month. Current SPX end of year projected high is 7095.33.
January 2023: Bulls win by 205.38 pts. The Weekly confirmed a W-2, the Daily confirmed a D-E-2, the 60 min confirmed a 60-SC-2.
December - Bears win by 222.05. The Bears also win 2022 by 936.59. Bears 1767.72, Bulls 831.13. The Bears took 8 months and the Bull took 4 months.
November - Bulls win by 175.63 The Weekly confirmed a W-2, the Daily confirmed a D-E-2, and the 60 min confirmed 2 60-SC-2s.
October - Bulls win by 96.62 The Daily D-1 & D-E-2 got confirmed, and a 60 min 60-SC-2 got confirmed.
September Bears won by 226.56 Weekly W-E-1 & Monthly M-1 was confirmed.
August Bears won by 122.46 New Weekly Bear Cycle begin.
July Bulls won by 320.88 New Weekly Bull Cycle begin.
June Bears won by 350.02
May Bears won by 41.76 New Monthly Bear Cycle currently a M-S-1
April the Bears won by 393 points. New Weekly Bear Cycle that ended in July as a W-SC-1.
March the Bulls won by 238 points. New Weekly Bull Cycle ended as a W-S-2.
February Bears won by 205.91 points.
January Bears won by 205.96 points. New Weekly Bear Cycle that ended in March as a W-E-1.
SPX Cycles End of the Day Reports & Charts. Tomorrow at the close of the 1st hour there is the possibility of a 60-E-1 (Overdue) projected low 3985.23, low will be due at the 3rd hour, tomorrow at the close there is the possibility of a 60-SC-1 (due 2/17/23) projected low 3932.82, the low will be due Wednesday at the 3rd hour. Also tomorrow at the close there is the possibility of a Daily D-S-1 (due 2/28/23) projected low 3991.86, the low will be due tomorrow. Tomorrow there is the possibility of 2 UPRO Buy Signals, one at the closing of the 1st hour if the 60-E-1 is confirmed, UPRO buy price below 36.21, the second one is at the close if the 60-SC-1 is confirmed, UPRO buy price below 34.76.
The case for being bullish is we are in a Daily extended Bull Cycle, the Weekly is in an UNCONFIRMED extended Bull Cycle, the Monthly M-1 (Monthly average Bear Cycle) is in the 9th month, the average is 6 months, the monthly indicators are closer to a new Monthly Bull Cycle than a Monthly Extended Bear Cycle, the Quarterly is also closer to a new Quarterly Bull Cycle than a Quarterly Average Bear Cycle. The Yearly indicators are in strong Bull territory.
A move to 4165 is projected by the 17th.
SPX Cycles Quick Update. Today at the close of the 1st hour the 60 min confirmed a 60-S-1 (Overdue), today at the close of the 3rd hour there is the possibility of a 60-1 (due 2/7/23) and today at the close of the 6th hour there is the possibility of a 60-E-1 (Overdue) projected low 3985.23, the low will be due tomorrow at the 3rd hour. It will take a lot to get the 60-E-1 confirmed as the 60 min MACD (12,26,9) is well above the zero line. The Daily remains in Bull territory above 4022 and the Weekly is currently in strong Bull territory. The Monthly & Quarterly still have the potential of confirming new Bull Cycles this week. Once I get all my reports updated, I will post an SPX Cycles Update chart and current 60 min, Daily, Weekly chart.
SPX Cycles End of the Day Reports & Charts. Today at the close the Daily confirmed a D-E-2 (due 3/4/23) projected high 4186.44, high due 2/16/23, keep in mind that the D-SC-2 is overdue, it could be confirmed at the opening on 2/20/23, projected high 4298.10, the high will be due 3/1/23. Also today at the close the Weekly confirmed a W-2 (due 3/16/24) projected high 4169.38, the high is due 2/17/23, keep in mind that the W-E-2 is overdue, it could be confirmed at the close on 3/10/23, projected high is 4582.25, the high will be due 5/26/23. Monday at the close of the 1st hour there is the possibility of a 60-S-1 (Overdue) or at the opening of the 2nd hour there is the possibility of a 60-SC-2 (due 2/13/23) the high will be due Tuesday at the 2nd hour. Next week there is also the possibility of a new Quarterly Bull Cycle (Q-S-2) projected high 4692.46, the high will be due 3/31/23.
The SPX 60 min & Daily are currently OB, but it can remain OB for a long period when higher levels are going into Bull territory.
Next week the Weekly will likely be in W-E-2 territory, looks like the Weekly MACD (12,26,9) will finally cross above the zero line.
If your a Bear you might want to go into hibernation for a year.
It's the hitting of the top green line (UTL) currently at 4133.29
So possibly 4135 or 4140 is the confirmation price. The UTL will rise as price goes up.
SPX Cycles End of the Day Reports & Charts. Tomorrow at the close there is the possibility of a Daily D-E-2 (due 3/4/23), projected high 4186.44, high will be due 2/16/23, and a Weekly W-2 (due 3/16/24) projected high 4169.38, the high will be due 2/17/23. Keep in mind that the Daily D-SC-2 is overdue with a projected high of 4298.10, and the Weekly W-E-2 & W-SC-2 are overdue, the W-E-2 projected high is 4582.25 and the W-SC-2 projected high is 4653.16. This Quarter there is a good possibility of a new Quarterly Bull Cycle with a projected high of 4692.46, the high will be due 3/31/23.
SPX Cycles Update. Today at the close of the 4th hour the 60 min confirmed a 60-E-2 (due 1/28/23), the high is due tomorrow at the 5th hour, Monday at the opening of the 2nd hour there is the possibility of a 60-SC-2 (due 2/13/23) projected high 4083.99, the high will be due Tuesday at the 5th hour. Tomorrow at the close there is the possibility of a Daily D-E-2 (due 3/4/23), projected high 4186.44, high will be due 2/16/23 and a Weekly W-2 (due 3/16/24) projected high 4169.38, the high will be due 2/17/23. Keep in mind that the Daily D-SC-2 is overdue with a projected high of 4298.10 and the Weekly W-E-2 & W-SC-2 are overdue, the W-E-2 has a projected high of 4582.25 and the W-SC-2 has a projected high of 4653.16.
SPX Cycles End of the Day Reports & Charts. Today at the close the 60 min confirmed a 60-2 (due 1/25/23), tomorrow at the close of the 4th hour there is the possibility of a 60-E-2 (due 1/28/23) projected high 4048.22, the high will be due Friday at the 5th hour. The Daily closed in D-E-2 territory and the Weekly closed in W-2 territory.
SPX Cycles Update. Today at the close of the 3rd hour the 60 min confirmed a 60-1 (Overdue). There is the possibility of a 60-S-2 (Extreme Overdue) sometime this afternoon, or at the close of the 6th hour there is a possibility of a 60-E-1 (due 1/28/23) projected low 3931.79, the low will be due tomorrow at the 3rd hour.
SPX Cycles Update. Today at the close of the 1st hour the 60 min confirmed a 60-S-1 (Overdue), the 60 min is currently in 60-1 (Overdue) territory, if the 60-1 is confirmed at the close of the 3rd hour, the low will also be due at the 3rd hour, there is the possibility today at the close of the 6th of a 60-E-1 (due 1/28/23) projected low 3931.79, the low will be due tomorrow at the 3rd hour. If the 60-E-1 is confirmed a UPRO Buy Signal will become active, buy price below 34.85 until a 60-S-2 (Extreme Overdue) is confirmed.
Yesterday at the close a UPRO Bull Cycle ended. This cycle lasted 39 trading days, the average is 21.10 trading days. During this cycle there was 10 buy signals, the average is 2.79. I added 4 UPRO positions during this cycle, average buy price 34.56, there were no sells during this cycle. 1700 shares of UPRO & 100 shares of SPXL will be carried forward to the next cycle that starts today.
The 60 min 60-SC-2 has been confirmed, the projected high has been exceeded, it could end tomorrow at the 1st hour or continue to Thursday. The 60 min 60-S-1 & 60-1 are both overdue, so we could get a short bear cycle that would reset the bull projections and then go higher. The Daily & Weekly Bull cycles are currently projecting 4169.38 to 4186.44.