Replies to post #2356 on Rule-Based Trading Systems

[northam43]

Market Update:

SPX Weekly MACD is narrowing the gap. I'm expecting an eventual bull crossing that will propel the SPX to the 1200 target(might hit it by April). I expect that will be the high of the year. That would put long term time frames in OB area, then I will be looking for a decline towards the 1000 low of the year target by around August.

[northam43]

Market Update:

SPX Daily - Bullish - 4 of 5 of my indicators are bullish. The SPX Daily Phase II cycle has completed it's 24th trading day. The PPO is bearish which is the first signs of a possible pullback.

SPX Weekly - Solid Bullish - 5 of 5 are Bullish. The SPX Weekly Phase II has completed it's 5th week. A new cycle high at 1170 was made this week. The MACD(12,26,9) confirmed a bullish crossing at the close today.

SPX Monthly - Solid Bullish - 5 of 5 of my indicators are bullish. Even though the PPO is currently bullish, it must be confirmed at the end of the month, the bullish crossing could be negated by the end of the month.

Comments: The Daily & Weekly indicators are OB. So the pullback that occured today will most likely continue next week. SPX 1200 is still my Long Term Target to the upside.