Replies to post #17196 on S&P 500 Analysis & ETF Trading

[northam43]

Kiy - Here are the rules:

Basic P1 confirmation rules for each time frame:

60 min P1 confirmation: SPX must open the hour below the 60 min UTL, the SPX must remain below the UTL to the close of the hour

Daily P1 confirmation : SPX must open the trading day below the Daily UTL, the SPX must remain below the UTL to the close of the trading day

Weekly P1 confirmation: SPX must open the trading Week below the Weekly UTL, the SPX must remain below the UTL to the close of the trading week

Monthly P1 confirmation: SPX must open the trading Month below the Monthly UTL, the SPX must remain below the UTL to the close of the trading Month

Basic P2 confirmation rules:

If the SPX is in a confirmed P1, and the SPX touches the UTL, a P2 is immediately confirmed and remains confirmed until a new P1 is confirmed per the P1 confirmation rules.