SPX Cycles System Daily Cycles (SPI:IN\X)

[northam43]

Torqputty - The last Daily cycle from 8/11/10 - 11/12/10 was 187.38 points. The cycle low was 1039.7 and the cycle high was 1227.08. The Daily Phase I lasted 15 trading days, the Daily Phase II lasted 52 trading days.

The current Daily cycle that started 11/15/10 - Present, is so far 62.05 points. The cycle low is 1173 and the cycle high thus far is 1235.05. The Daily Phase I lasted 11 trading days, the current Daily Phase II is in the 7th trading day.

1300 - 1173 = 127 - 62.05 = 64.95

Now lets look at the Weekly. The current weekly cycle is now in the 17th week. Weekly Phase I lasted 3 weeks, Weekly Phase II is now in the 14th week. This Weekly cycle started at the beginning of this current Bull Market. The weekly cycle low is 1039.7 the current cycle high is 1235.05. That is 195.35 points.

The last Weekly cycle that occured at the beginning of a Bull market was from 7/6/09 - 1/19/10 it lasted 29 weeks. Phase I lasted 1 week and Phase II lasted 28 weeks. The cycle low was 869.32 the cycle high was 1150.45 a total of 281.13 points.

So 281.13 - 195.35 = 85.78

Based on previous historical cycles at the beginning of a Bull market. It is possible that the current Daily Phase II could reach the 1300 level. The odds get better each day the Phase II continues.

Bottom Line: The Daily, Weekly, Monthly charts are currently not OB. At the 1300 level the DAily would most likely be in extreme OB and the Weekly in OB. To me that would be a good level for a nice correction to take place.