Since the Weekly price is above the UTL. The Weekly is now locked in Phase II for the rest of this week. This is now the 5th trading week of this weekly Phase II. The target price remains at 1387.75 by June 17th which is about 8 weeks away. At this point I would say the target price is likely, however, I don't think it will wait until June 17th. So I'd say the target will be earlier than later.
Since the Daily went into Phase II today, that should strengthen the Weekly Phase II.
However, the Monthly Phase II is getting a bit toppy and a pull back to the Monthly UTL maybe in the cards in the near future. The current Monthly UTL price is 1256.93, so the Monthly could put the Weekly in a Phase I in the near future.
JMHO, Lindy
"Buy low, Sell high, stay with your system. If your system breaks fix it."
