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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk
SOXL 38.85-0.9%Nov 14 4:00 PM EST
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To: My 2 Cents Worth who wrote (186924)2/28/2023 11:54:14 PM
From: northam3 Recommendations

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da_spot
My 2 Cents Worth
toccodolce

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Right now the SPX Quarterly Q-S-2 has a projected high of 4692, the high is due 3/31/23, that's based on an average cycle. So we will need over 700 pts in March to reach that target, it's possible.

Tomorrow the SPX Monthly will be opening in Bear territory, for the Monthly to remain in a Bull Cycle the SPX will have to get above 4200 by the end of March. The Monthly Bear Cycle M-S-1 which is overdue has a projected low of 3666.30, which will be due this month. So right now the Monthly can go either way.

However, at the 60 min level the top 3 bull cycles are extremely overdue, and at the Daily level the D-E-2 & D-SC-2 could take the SPX above the 4200 level, which would keep the Monthly in a Bull Cycle for another month and the Quarterly in a Bull Cycle for another Quarter.

Bottom line: SPX Monthly could be going into a new Bear Cycle with projected low of 3666.30 due by end of this month or the SPX gets above 4200 and both the Monthly & Quarterly continue their Bull Cycles, then we could possibly see an ATH around end of May. So we need some large upside moves in the short term.
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