The SPX 60 min could go either way in the morning, it could open as a P2 or as an extended P1. It closed today as an average 60 min P1, but the EMA 3 was just above the 60 min LTL and in after hours dropped below the LTL. If the 60 min opens as an extended P1 then the Daily will open as an unconfirmed P1, right now the 60 min UTL is below the Daily UTL, so the 60 min could come up for a gasp of air and back down into a new P1 keeping the Daily in P1 territory. Now if tomorrow during the closing hour it looks like the Daily will confirm a short P1, I will be looking to add a SPXL position, because an average short Daily P1 lasts 2.33 trading days and the low is normally put in by the 1.73 trading day, the projected low for a short Daily P1 will be around 1812. If the Daily confirms an average P1 I will hold off adding SPXL for possibly a couple days. Now the SPX Cycle Study Flow Chart is projecting a 60 min P2 in the morning with a possible 60 min high tomorrow of 1845.54, that's if it's an average P2 but even a short 60 min P2 will get the SPX above 1833 which will keep the Daily in it's extended P2 for at least another day. So tomorrow I might have a buying opportunity.
JMHO, Lindy
"Buy low, Sell high, stay with your system. If your system breaks fix it."
