Replies to post #2540 on CHARTS_CCI_SYSTEM

[northam43]

SPX Cycles Morning Flow Chart:

SPX 60 min Phase 2 confirmed, projected high of 1505.74 has already been exceeded, tomorrow morning a 60 min Phase 1 is due, the current projected low is 1484.6, for a Daily Phase 2 to be confirmed the SPX must get above 1516. I currently have a stop loss on SSO at 67.01, which is the SSO 60 min EMA 3 level. Each hour I will look at adjusting that price level.

[northam43]

I don't want the SPX Daily confirming a Phase 2 today. That would not be good thing if your bullish. Why? Because the 60 min confirmed a Phase 2 at the open this morning, at the close of today the 60 min Phase 2 could be in it's 7th trading hour, the average for a 60 min Phase 2 is 8.5 trading hours, so tomorrow morning a 60 min Phase 1 will be due, if the Daily confirms a Phase 2 today, it more than likely will be back into Phase 1 tomorrow or Friday with a new Phase 1 and the 60 min Phase 1 supporting it and if the Weekly which is due a high this week joins in on the downside, it could be a pretty nice drop.

Now if the Daily can hold off going into Phase 2 until tomorrow afternoon(the end of the month) or Friday morning (the beginning of March). The Weekly could very well reach it's projected high on Friday.

So which way do we go?