Friday, February 22, 2019

SPX Update

Last update noted that the market had reached a potential resistance zone, and so far it has at least reacted to that zone:

If bears can push below yesterday's low, they could get something going in terms of a larger correction.  If bulls instead reclaim the channel (and the prior high with it), then bears are back to awaiting more propitious times.  I tend to suspect bears might finally be due a correction, but this rally has been pretty relentless so far, so we'll see...  Trade safe.

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