If the SPX Daily does confirm a Phase 2, it will probably be a short one, because the Daily MACD(12,26,9) will remain on the Bear side, that's usually an indicator of a short cycle, also the Daily CCI(24) is still 28 pts below the zero line. So if we get a confirmed Daily Phase 2 today, we could get a sell off into the closing and then on Monday both the Daily & Weekly could open in an unconfirmed Phase 1. That could be a big red day.
Now if the Daily pulls back and waits to confirm a Phase 2 on either Monday or Tuesday. The Daily MACD may then get a Bull crossing and we could see a big green day.
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