Friday, July 6, 2018

SPX and BKX: More Fun than a Barrel of Giant Sloths

The market's continued trading in a noise zone for the past (forever), so there's still nothing new to add.  It is interesting to note that perhaps SPX will make some attempt at symmetry before beginning to make progress again:

(Please note typo on this chart:  "2591" of course refers to the low at 2691.)

Or maybe bulls will stick save it here and use the last few weeks' grind as a base -- that's always possible, since 2691 has continued to hold.

BKX is likewise just barely holding its key zone:

In conclusion, assuming you haven't fallen into a boredom-induced coma yet, the market continues to look longer term bearish, but likewise has continued refusing to give much confirmation..  Trade safe.

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