SPX Daily Phase 1 is now in the 5th trading day, the average is 6. The current price level is below the LTL, so since it has not gotten above that level it doesn't look like it is going into a Phase 2 any time soon. The Daily UTL is currently at the 1344.85 level, if it does get to that level, then the Weekly price would cross back above the Weekly UTL which is currently at 1341.16.
Actually the last time the Daily Phase I was above it's average was during the March 8-23 period when it lasted 12 trading days. There have been 3 cycles since then, with one being at the average and the other 2 well below the average. So the SPX Daily is due for a longer Phase I.
JMHO, Lindy
"Buy low, Sell high, stay with your system. If your system breaks fix it."
