Thursday, June 8, 2017

SPX and RUT: Just the Fax, Ma'am

Getting right to the charts, RUT still looks more bearish than bullish.  If bulls could sustain a breakout, that would change, of course.  The chart notes 1426, but the megaphone resistance line is probably more critical:

And SPX is in an inflection zone:

In conclusion, the dashed blue median line above, combined with the potential wave count, does present this as an inflection zone.  If you're bearishly inclined, there is now a fairly clear zone to act against (2441ish).  Trade safe.

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