Rule-Based Trading Systems

[northam43]

Updated current view of the market:

SPX Daily - Bullish - 4 of 5 of my indicators are bullish.

SPX Weekly - Bullish - 4 of 5 are bullish.

SPX Monthly - Solid Bullish - 4 of 5 are bullish.

Comments: The up trend remains in tact. The SPX Daily Phase II completed it's 8th trading day. I would expect that the SPX Daily is in the latter days of this cycle. The SPX Weekly Phase II price would have to get above 1112 and open at that level on Monday to remain in Phase II another week. That is only about 9 points away so it is very possible. So lets see what tomorrow does, it may give a clearer picture of the ST & MT directions.