Friday, July 20, 2018

SPX and BKX Updates

Last update expected that the market would likely head at least a bit higher into its inflection zone, and that's what it's done since then.  There's no real change -- this appears to be an important inflection zone, but there's a little bit of wiggle room left to the upside, so the market does not have to reverse immediately (or at all -- technically the market is free to do whatever it wants; inflection zones don't ALWAYS generate reversals).

SPX rallied right up to the red (v), and I had to move it slightly to show the price call-out:

BKX again held the support zone we've been watching, and rallied up to first resistance, where it bonked its head.

In conclusion, there's no real change from last update.  Trade safe.

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