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.

No comments:

Post a Comment