SPX Cycles Opening Report. Bull Gap 51.69 (STRONG)
The SPX Cycles Bull Market has been downgraded from an OB condition to a STRONG BULL MARKET. That means the long term OB condition of the SPX has now been resolved at this point, it doesn’t mean that there won’t be more downside.
Today if the SPX 60 min 60-E-1 continues to the close of the 6th hour a 60-SC-1 (due 9/7/17) will be confirmed with a projected low range of 2412.25 to 2384.28, a 60-SC-1 low will be due by Monday at the 4th hour.
The SPX Daily is currently in an UNCONFIRMED D-E-1 (overdue) if the D-E-1 is confirmed Tuesday at the close, the projected low range will be 2368.30 to 2286.43, a D-E-1 low will be due by 8/29/16. Keep in mind that the D-SC-1 has been overdue since 6/30/16.
The SPX Weekly is currently below it’s Lower Trend Line (LTL), so there is a good chance the overdue Weekly W-S-1 may get confirmed at the close of next week with a projected low range of 2414.70 to 2373.13, if the W-S-1 is confirmed next week, a W-S-1 low will be due next week.
SPX Cycles Indicator’s Report. The SPX Cycles Bull Market has been downgraded from an OB condition to a STRONG BULL MARKET. The SPX Weekly & Monthly are currently in an OB condition. The SPX 60 min is currently in an OS condition.
SPX Cycles Overdue & Future Phases Report. Today a 60-2 is due. The next phase(s) due is a 60-E-2 due 8/23/17. There are currently 18 overdue phases, 3 of them are currently confirmed, 1 of them is currently in an unconfirmed status, 10 of them are P1’s (2 of them are currently confirmed, 1 of them is currently in an unconfirmed status), 8 of them are P2’s (1 of them is currently confirmed)
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