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

[northam43]

SPX Cycles Alert:

This is not a sell alert.

At this point it's a heads up. The SPX Weekly yesterday closed at the Weekly UTL. Since the Weekly has closed above the UTL, by closing below the UTL a Sell Signal will be triggered.

So today could be quite interesting. It could be a Buy if the market is up or a sell if the market is down.

As for why would I sell just because the Weekly closes below the UTL? Normally when the price has closed above the UTL, the UTL will be a major support level. By closing below that level, there would be a strong indication that a new Weekly Phase I maybe developing.

Have a Great Day!