snoot - your 1200 lower target would be in line with a Daily Phase 1. I'm hoping that the 60 min, Daily & Weekly all open in Phase 2 Monday morning, then by Monday afternoon I am looking for a 60 min Phase 1 that will take the Daily below it's UTL, then Tuesday the Daily goes into Phase 1, by Thursday I'm looking for the Daily low to be put in, the target would be 1199, but I'm really expecting a short cycle, then the Daily goes to Phase 2 by Monday, that would keep the weekly in Phase 2 for the 4th week, the weekly normally establishes a high by the 9th week. With the 60 min & Daily in a new Phase 2, I would expect them to first push the Monthly EMA 3/8 to the Bull side, and then push the Monthly to a new Phase 2 confirmation, I am looking at all this to take place by December 23rd, after the Monthly Phase 2 is confirmed I would be looking at the 60 min possibly going into a short Phase 1, but I would expect the Daily to go into an extended Phase 2, till after the 1st of the year. This is a very bullish scenario.
The Bearish scenario would start Monday if the 60 min, Daily & Weekly all opened below their respective UTL's. If it's just a 60 min Phase 1 the low target would be 1230, Daily Phase 1 the low target would be 1198.57, start of a Weekly Phase 1 the low target would be 1132.29
I will be expecting my Buy Blockers to keep me out of trouble on the long side.
So until this market either confirms a new Bull market or the Monthly drops below the LTL indicating the potential for a new Bear low. I will be waiting for the next buying opportunity either with SSO or SPXU.
JMHO, Lindy
"Buy low, Sell high, stay with your system. If your system breaks fix it."
