Friday, October 11, 2013 5:27:26 PM
Closing Bell Report:
What a week! All time frames are in Phase 2 and everything closed above their EMA 3. The 60 min is well over due for a Phase 1. Monday I will be looking for a 60 min Phase 1, if confirmed by the 3rd hour, a 60 min low will be due by the close, the current projected low is 1682.5, since the last two 60 min Phase 1's were extended, I am expecting the next one to be a short one, right now Oct 16th is lined up to have a 60 min high & Daily high, the projected high is 1709.5, next week the Weekly Phase 2 may be in it's 6th week (unless the futures crash over the weekend), that will put us within 3 weeks of a Weekly high which is currently projected for the week of Nov 8th, the projected high is 1774.81, with a Weekly Phase 1 currently not due until Nov 29th, and a Weekly low of 1606.46 projected for the week of Dec 20th, a Weekly Phase 2 would then be due around the last week of December, and a Weekly high in Feb 2014, so a Monthly Phase 1 might not occur before March 2014, I'm sure there will be some bumps in the road and there will likely be some detours, but it's looking like the SPX has a good chance to make it to 1800 before the year ends.
What a week! All time frames are in Phase 2 and everything closed above their EMA 3. The 60 min is well over due for a Phase 1. Monday I will be looking for a 60 min Phase 1, if confirmed by the 3rd hour, a 60 min low will be due by the close, the current projected low is 1682.5, since the last two 60 min Phase 1's were extended, I am expecting the next one to be a short one, right now Oct 16th is lined up to have a 60 min high & Daily high, the projected high is 1709.5, next week the Weekly Phase 2 may be in it's 6th week (unless the futures crash over the weekend), that will put us within 3 weeks of a Weekly high which is currently projected for the week of Nov 8th, the projected high is 1774.81, with a Weekly Phase 1 currently not due until Nov 29th, and a Weekly low of 1606.46 projected for the week of Dec 20th, a Weekly Phase 2 would then be due around the last week of December, and a Weekly high in Feb 2014, so a Monthly Phase 1 might not occur before March 2014, I'm sure there will be some bumps in the road and there will likely be some detours, but it's looking like the SPX has a good chance to make it to 1800 before the year ends.
JMHO, Lindy
"Buy low, Sell high, stay with your system. If your system breaks fix it."
Discover What Traders Are Watching
Explore small cap ideas before they hit the headlines.
