Wednesday, August 5, 2015
SPX and INDU: Market Reaches Inflection Point
On July 31, I published the following projection chart for INDU:
Here's how INDU's chart looks now, with the actual price action:
SPX below. The bull count is a complete ABC decline (blue abc). Below the 3/c level, and we're probably looking in the vicinity of black C as next potential support.
In conclusion, this is an important inflection point. So far, INDU has tracked perfectly, which always makes me at least a little nervous. The next session or two should be revealing. Trade safe.
Posted by PretzelLogic at 3:36 AM