The SPX 60 min is currently in the 5th hour of a Phase 1, the low projection of 1236.6 has not yet been met. The average 60 min Phase 1 lasts 8 trading hours, so it still has another 3 hours before it goes into an extended period.
The SPX Daily Phase 2 is in the 2nd trading day, The Daily price is currently below the UTL, if it closes below the UTL, tomorrow a Phase 1 could be starting.
The SPX Weekly Phase 2 has started it's 5th week. The Weekly price is currently below the UTL, however with the week just starting unless the price gets below the LTL a Phase 1 is very unlikely at this point, the earliest a Weekly Phase 1 could be confirmed is at the close of the market on November 25th.
The SPX Monthly remains in an unconfirmed Phase 1, the Monthly price needs to get above the 1290 level for the Phase 2 to continue. The last time the Monthly Phase 2 only lasted one month was June 1988.
The SPX Monthly EMA 3/8 Bear gap is currently at -9.41, that is not a very wide gap.
Bottom Line: So right now the 60 min is driving the train, if the 60 min Phase 1 ends in the next couple hours, and the 60 min Phase 2 is average to extended, the Daily and Weekly would go back above their respective UTL's which would keep the Daily in Phase 2 tomorrow and if the 60 min hit it's current projected high of 1277, that could be very close to a Monthly EMA 3/8 Bull crossing.
JMHO, Lindy
"Buy low, Sell high, stay with your system. If your system breaks fix it."
