Monday, November 26, 2018

SPX Update: No Material Change

No change to the last few updates.

Bulls still holding critical support, for the moment:

Though this may simply be a nested 2nd wave -- however, there are options for this at multiple degrees, though presently we're only giving significant credence to blue "2?" if bulls can sustain a breakout over the black resistance line, red "or (2)?" may need more serious consideration:

In conclusion, SPX is still balanced on the edge of a cliff, and while it's always possible bulls will stick save it here for a larger Santa Rally to red (2), they have yet to clear their first hurdle, so we'll lean toward blue 2 until the market tells us otherwise.  Trade safe.

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