The SPX 60 min Phase 1 continues to make new records. The SPX Daily price remains below the LTL, which may mean that the downside is not over yet. The SPX Weekly is a day closer to a Phase 1 confirmation. The Monthly price crossed above the UTL, the monthly buy blocker was released, then by the closing the price dropped back down and closed below the UTL, the monthly buy blocker was then reestablished.
I have said many times that SPX Cycles is not a day trading system. This is a long term system with a goal of 25 to 35% return per year. I expect most of the trades will be profitable within 3 months, some will be profitable within 6 months, I expect a small percentage to be held more than a year, an even smaller percentage will be held longer. However, over time I expect the portfolio to grow and positions added. There will be good years and there will be bad years. When I started the SPX Cycle Portfolio in January of this year, the SPX Monthly Phase 2 was already in it's 5th month and hit it's average high target in Feburary. I don't believe the Monthly Phase 2 is coming to an end at this point. I believe this is the correction we have been looking for once the bottom is established, I believe the Monthly will go back to atleast the 1370 level before going into a Phase 1. So I believe the SPX Monthly could be within 6 months of a Phase 1 and possibly a new Bear market.
Today the SPX Cycle Portfolio is at -.95% vs the S&P500 is at 2.17%
I have added a new report called SPX Cycles Buy Blockers. This report will show the current buy blockers as well as a history of the buy blockers.
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