gdl - Today the SPX Monthly EMA 3/8 Bull gap got over 80, then the SPX pulled back and closed with the Bull gap at 78.4, we did get a new record high at 1813.55, but the SPX closed at 1805.81, since we closed well off the high, it looks like on Monday at least a 60 min correction is likely. Also the 60 min has had 14 complete cycles since the last Daily Phase 1, that is probably at little over average.
The only way to get the Bull gap to come down is for the market to slow down, that usually occurs through corrections.
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