It will have to open below 1625 Monday and remain below that level until the close Friday to confirm a Weekly Phase 1.
The Daily is due a Phase 2 on Tuesday, if confirmed it could take the SPX Weekly back to it's UTL which would then keep the Weekly in Phase 2 for another week.
Glen Here is a chart I am watching closely the 30 min spx and with the drop below the bottom wedge line and follow ing the back test of it we should accelerate towards 1600. I do believe we get a bounce in that neigborhood.
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