Just no way this market is going to go down...We have plenty of room on the daily chart for new highs...60 min is getting very OB..but that can stay OB for a long time...No down .More up..
The SPX Daily closed below it's UTL, I sold all SSO positions. The SPX 60 min Phase 2 closed in it's 7th trading hour, tomorrow morning a 60 min Phase 1 is due, the current projected low is 1498.6, with the Daily closing below it's UTL, in the morning the Daily could open in an Unconfirmed Phase 1, if a Daily Phase 1 is confirmed, the current projected low is 1454.71, that is below the Weekly LTL.
So if in the morning the Daily opens in an Unconfirmed Phase 1 and the 60 min opens in a Phase 1. It could be a big drop. If the Daily confirms a Phase 1, the Weekly will likely open on Monday in an Unconfirmed Phase 1. Now if the Daily gets back into Phase 2 territory tomorrow, it could be a different story. On the bright side, the Monthly is most likely to remain in Phase 2 for March, so the most out of this to the downside will be a possible Weekly correction.
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