Friday, February 15, 2019

SPX Update

Yesterday saw the market gap lower at the open, but that decline caught itself on the black trend channel shown in Wednesday's update.  The pattern from here does at least suggest some potential "if/then" targets.  Theoretically, anyway.  The market lately hasn't been terribly kind to its own patterns, so don't get too married to these.

In conclusion, so far bulls are continuing to hold the black trend channel, but if bears can turn the market back down and sustain a break of the black trend channel, they could potentially muster a larger correction here.  Trade safe.

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