Wednesday, January 14, 2015

INDU, SPX: A Potential Complexity

Today's update will be short and sweet.  There's been no material change to the intermediate outlook, but the market has potentially created a new wrinkle for the near-term picture.

Below is the INDU chart, which shows the possibility that the market is creating a very complex expanded flat.  Because of INDU's new high yesterday, we have to respect this potential:

(Typo: black alt. count should show "alt. C")

The SPX chart contains some additional detail.  Monday's targets were reached, both to the upside and to the downside.

Beyond that, there's nothing much to add to the picture at the present moment.  If there's anything to add on Thursday, I may post a brief update tomorrow.  Trade safe.

No comments:

Post a Comment