Market Update:
SPX Daily - Bullish - 4 of 5 of my indicators are bullish. The SPX Daily Phase II cycle has completed it's 24th trading day. The PPO is bearish which is the first signs of a possible pullback.
SPX Weekly - Solid Bullish - 5 of 5 are Bullish. The SPX Weekly Phase II has completed it's 5th week. A new cycle high at 1170 was made this week. The MACD(12,26,9) confirmed a bullish crossing at the close today.
SPX Monthly - Solid Bullish - 5 of 5 of my indicators are bullish. Even though the PPO is currently bullish, it must be confirmed at the end of the month, the bullish crossing could be negated by the end of the month.
Comments: The Daily & Weekly indicators are OB. So the pullback that occured today will most likely continue next week. SPX 1200 is still my Long Term Target to the upside.
JMHO, Lindy
"Buy low, Sell high, stay with your system. If your system breaks fix it."
