Charts SYSTEMS

[northam43]

It's possible, but unlikely that the SPX will continue this slow upward move thru the end of the year. The Daily either corrects before January 6th (which will be 61 trading days in Phase 2) or a new all time record is established.

The last two 60 min Phase 2's have not even come close to the projected highs, that is likely indicating that a Daily top has been established.

The SPX Weekly & Monthly are both above there EMA 3 levels which normally indicates a strong Phase 2. The weekly is above it's EMA 3 by 5.36 points, and the Monthly is above it's EMA 3 by 26.34 points

A Daily correction could start a chain reaction taking the Monthly down to it's UTL at 1694.29, there really isn't alot of support levels below 1802