Friday, July 27, 2018

SPX and INDU Updates

So, the good news is out (more on this next update), and the market rallied.  INDU has finally fulfilled the "more common" pattern expectations, which I first laid out back on June 11:

SPX has (nearly) tagged the upper rail of its current channel:

We've yet to see an impulsive decline, but on the flip side, bears don't have a ton of real estate left, so if they're going to get anything going, they probably have to do so reasonably soon... or give up the market to bulls.  The next few sessions should be important.  Trade safe.

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