Friday, June 22, 2018

SPX and INDU: No Change

Not much to add since last update.  Yesterday saw the market test the previously noted low, which has held... so far.

INDU presents the possibility for some additional trickery from the market, which I've shown via the black count below:

The latest numbers reveal that foreign capital continues to be the driving force holding up the U.S. stock market, as it was the only global region with net inflows this week.  Foreign capital is the counterbalance that's acting against the Fed's draining.

In conclusion, there's no material change since last update.  Trade safe.

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