rimshot - I consider myself a pretty conservative trader. The 60 min Phase 2 (up trend) is now extended in duration. The 60 min has the only upside projections, and probably lower cycles, but the 60 min is the lowest I go. So the question is how much longer can the 60 min hold this market up?
Yesterday I showed a chart of the SPX EMA 8 in all timeframes and the 60 min was the only time frame where it hadn't touched the UTL. Today the 60 min has touched the EMA 8, so all time frames are over bought.
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