Wednesday, March 13, 2019

SPX, NDX, INDU Updates

It appears that last update's "Bear 3/C" inflection point may have indeed marked the bottom of "Bear C."  Let's get right to the charts.

First up is SPX's bigger picture chart:

Next is a closer look:

NDX has already made a new high:

And finally INDU, which is lagging a bit, and the only hint of weakness in the market -- INDU does create at least a little bit of concern for bulls until that rectifies:

In conclusion, there is some resistance approaching, and there's always a chance for any rally to stall at resistance, so bears aren't without any chances at all for the moment (although there are as yet no impulsive turns, even at micro degree) -- however, if the market sustains a breakout there, then that will have to be respected as bullish until proven otherwise.  Trade safe.

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