Replies to post #954 on Trading SPX Cycles

[northam43]

Torqputty - I won't know for sure if we hit a low until a Phase 2 is confirmed, but as you indicated there are some extremes that would probably make a long position at this point less risky.

Here is my list:

-The 60 min Phase 1 is well extended
-Daily Phase 1 is still below the average - that's a negative
-Weekly Phase 1 is extended
-Monthly Phase 1 which was just confirmed today - that's a negative
-Also as of today, I have no buy blockers that are active

Three out of five is not bad.

So depending on what Monday does, it maybe a buy day.

Have a great weekend!