Sunday, December 22, 2013 8:12:27 PM
gdl - The market is overbought. The chart below shows that all SPX Cycle times frames are in an extended Phase 2 (that means they have all exceeded or are projected to exceed their average Phase 2), a Weekly extended Phase 2 high is due Jan 6th, the projected extended high is 1828.34, a Daily extended Phase 2 high is due Jan 14th, the projected extended high is 1861.43, I just don't see a way to 1900 without at least a Weekly Phase 1 correction.
The SPX Monthly EMA 3/8 Bull gap closed Friday at 78.02, the record is 78.81
Weekly & Monthly MACD is a historic highs
I will continue to increase my downside position as significant upside moves are made (ie...Daily & Weekly highs) up to 50%, and I will limit my upside position between 10 to 20%, until at least a Weekly Phase 1 correction has started.
The SPX Monthly EMA 3/8 Bull gap closed Friday at 78.02, the record is 78.81
Weekly & Monthly MACD is a historic highs
I will continue to increase my downside position as significant upside moves are made (ie...Daily & Weekly highs) up to 50%, and I will limit my upside position between 10 to 20%, until at least a Weekly Phase 1 correction has started.
JMHO, Lindy
"Buy low, Sell high, stay with your system. If your system breaks fix it."
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