Wednesday, October 21, 2015

SPX Update: Short and Sweet

Since last update, the market has ground its way sideways/up, reaching the 2035-40 target.  There's just nothing to add based on the recent action, except to note that the longer SPX hangs around the current price zone, the higher the odds that the current wave extends.  As I've noted on several occasions, the "textbook" target for the current wave is 2071 +/-.

Beyond that, there's nothing else to add.  Bears should remain cautious if SPX can sustain trade north of the blue dashed resistance line.  Trade safe.

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