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SPX Cycles Consolidated Daily Reports:
Today the SPX 60 min went into Phase 2 at the opening hour. It remained in Phase 2 the entire trading day, making 5 hourly highs out of 7. The average highs in a 60 min Phase 2 is 4.1, so it exceeded that average. The average trading hours for a Phase 2 is 8.7, so far it has put in 7 trading hours, the bad news is at the close the price was went under the 60 min UTL, so it could open in a new Phase 1 tomorrow, also the average High-Low is 18.4, so far this cycle is at 17.12, so hopefully the futures will be up in the morning and keep this Phase 2 alive.
As for the SPX Daily, the price closed below the LTL, so that means we could still see a lower cycle low and this Phase 1 is obviously going to extend. Today was the 6th trading day in Phase 1. The average is 6 trading days. The record is 29 trading days.
The SPX Weekly price remains below the LTL, so it's 99% chance a new Weekly Phase 1 will be confirmed at the close tomorrow. The good news will be that we've completed the 1st week of it. The average Weekly Phase 1 lasts 6.4 weeks and it usually takes 5.1 weeks to get to the low price. So that means we could have another 4 weeks looking for a bottom. That's why there is currently a Weekly Buy Blocker active.
The SPX Monthly price crossed above the Monthly UTL which released the Monthly Buy Blocker. However, it dropped back below and closed below the UTL so the Monthly Buy Blocker was reactivated.
Tomorrow I would like to see the SPX 60 min remain in Phase 2 and the SPX Daily close above the Daily LTL. I'm expecting the Weekly Phase 1 to last atleast 2 weeks. Now if next week the Daily goes into Phase 2 and once again only lasts 1 or 2 trading days, I would say the Bear is coming.
Today the SPX 60 min went into Phase 2 at the opening hour. It remained in Phase 2 the entire trading day, making 5 hourly highs out of 7. The average highs in a 60 min Phase 2 is 4.1, so it exceeded that average. The average trading hours for a Phase 2 is 8.7, so far it has put in 7 trading hours, the bad news is at the close the price was went under the 60 min UTL, so it could open in a new Phase 1 tomorrow, also the average High-Low is 18.4, so far this cycle is at 17.12, so hopefully the futures will be up in the morning and keep this Phase 2 alive.
As for the SPX Daily, the price closed below the LTL, so that means we could still see a lower cycle low and this Phase 1 is obviously going to extend. Today was the 6th trading day in Phase 1. The average is 6 trading days. The record is 29 trading days.
The SPX Weekly price remains below the LTL, so it's 99% chance a new Weekly Phase 1 will be confirmed at the close tomorrow. The good news will be that we've completed the 1st week of it. The average Weekly Phase 1 lasts 6.4 weeks and it usually takes 5.1 weeks to get to the low price. So that means we could have another 4 weeks looking for a bottom. That's why there is currently a Weekly Buy Blocker active.
The SPX Monthly price crossed above the Monthly UTL which released the Monthly Buy Blocker. However, it dropped back below and closed below the UTL so the Monthly Buy Blocker was reactivated.
Tomorrow I would like to see the SPX 60 min remain in Phase 2 and the SPX Daily close above the Daily LTL. I'm expecting the Weekly Phase 1 to last atleast 2 weeks. Now if next week the Daily goes into Phase 2 and once again only lasts 1 or 2 trading days, I would say the Bear is coming.
JMHO, Lindy
"Buy low, Sell high, stay with your system. If your system breaks fix it."
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