SPX Cycles Alert:
The Daily SPX has finally confirmed a Phase II.
This last Daily Phase I lasted 11 trading days, which exceeded the average for a Phase I. The Phase I low was 1173.
During this last Daily Phase I, I added two long positions.
The average Daily Phase II lasts 9.27 trading day. Normally in a Bull market the Phase II will last longer than the Phase I. However, the Weekly Phase II is now in the 13th week which is above the weekly Phase II average. So since the weekly is due for a Phase I at anytime, the Daily Phase II could be of shorter duration.
The average Daily cycle H - L difference is 61.56 points. So my current target for this Daily Phase II is 1234.56.
My current trading status is HOLD
My current trading status will remain in effect until changed.
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