Wednesday, April 26, 2017

RUT and SPX: First Upside Targets Captured

SPX captured its first upside targets yesterday, and the rally looks like it probably has farther to run, although a fourth wave pause might be appropriate here:

No change to the big picture since 2016:

RUT's break of the prior high is significant from a technical perspective, and adds confirmation to the bigger picture bull case:

In conclusion, everything looks on track, although bear 2 isn't entirely dead yet, it does look increasingly less likely.  Trade safe.

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