SPX 60 min has confirmed a new Phase 1 and is currently in the 2nd trading hour, the projected low is 1238.9, the average 60 min Phase 1 lasts 7.6 trading hours, it has been over five cycles since the 60 min Phase 1 has had an average cycle.
The SPX Daily has dropped below the UTL, so there is the potential for a Daily Phase 1 to be confirmed tomorrow.
The SPX Weekly has also dropped below the UTL, however, at this point the odds of a Weekly Phase 1 is 50/50 since we are still in a Bear market.
So right now this could just be another 60 min Phase 1 or it could develope more into a Daily Phase 1. We shall see.
A chart is posted at my facebook SPX Cycles group.
JMHO, Lindy
"Buy low, Sell high, stay with your system. If your system breaks fix it."
