Replies to post #785 on SPX Cycles System Daily Cycles (SPI:IN\X)

[NASARAVI]

northam43:

Good call on the daily Phase II length. Great job....keep it up.

Two questions:

How long will this daily Phase II last? 1-2 or 10-20 days?

If we get another Phase I next week, how long will it last? 9 days?

I am trying to see if the next big correction will come from here 1250 levels or 1300+ levels.

Why, because weekly Phase II should end soon? and we may get 100-120 points down which requires 3-4 weeks of correction.

TIA.

[northam43]

SPX Cycles Alert:

The SPX Daily Phase II maybe coming to an end. The PPO and MACD have bearish crossings, also the RSI(14) has now crossed below the 70 line, and the CCI(24) is heading south. The current price is now below the EMA 3. The SPX Daily Phase II is now in it's 24th trading day, the average is 9.40 trading days. During this Phase II there have been 13 new daily highs, the average is 5.17.
The current cycle H-L difference is 103.17. The average is 61.56.
So all the averages have been greatly exceeded during this cycle. For a new Daily Phase I to start the price must first get below around the 1260 level. If a new Phase I is to begin, my bottom projection would be around the 1216 level. If it hits that level, it could very well be extended because depending on when or if it hits that level, a new weekly Phase I could start at a price level of around 1230. However, for a new weekly Phase I to be confirmed, it must remain below that price level the entire trading week.

So here is some possibilities(guesses)of how this could play out:

1. SPX closes at 1260 or below today. Wednesday a new Daily Phase I gets confirmed. Price continues to fall. Monday price opens below 1230(The UTL could be at a higher level), price remains below 1230 entire trading week. Weekly Phase I is confirmed. Weekly Phase I target would be 1133 within about 3 weeks(end of January), the 1133 low would not effect the Monthly Phase II. The SPX would then head to new highs.

2. SPX closes at 1260 or below today. Wednesday a new Daily Phase I gets confirmed at the close of the market. Daily Phase I goes to the low (that could be as low as 1216)by Friday. Daily goes back into Phase II by next Tuesday, then goes to a high of around 1280.

3. SPX closes above 1260 and the Daily Phase II continues towards the 1300 level for another trading day.

Most Likely #3
Likely #2
Unlikely #1

My current trading status is HOLD

My current trading status will remain in effect until changed.