SPX 60 min has confirmed a new Phase 1, it is currently in the 2nd trading hour, the projected low is 1237.3, the average 60 min Phase 1 lasts 7.8 trading hours.
The SPX Daily continues it's 6th trading day in Phase 2, the current Daily cycle high of 1266.73, maybe the Daily cycle high. The Daily UTL is at 1244.33 so a drop below that level might be an indication that the Daily is going into a new Phase 1. A closing below that level will activate a Daily Buy Blocker.
The SPX Weekly price has dropped below the UTL, if it closes below the UTL a Weekly Buy Blocker will be activated. However, currently the earliest the Weekly can confirm a new Phase 1 would be the close of the market on December 16th.
So things are looking kinda bearish right now, however, right now this is just a SPX 60 min Phase 1 taking place.
JMHO, Lindy
"Buy low, Sell high, stay with your system. If your system breaks fix it."
