Monday, March 4, 2019

SPX Update: Still the Same... for Now

Last update noted that there still appeared to be little hope for bears, outside of a more complex short-term correction, but that even if there was such a move, it would still be expected to be "just a correction" (meaning the larger trend would remain "up") -- at least for the time being.

Nothing much has changed, and there are still no signals suggesting the rally has ended.  All of that can always change tomorrow -- the market can change character on a dime, and it usually announces that fairly clearly once the first turn happens.  But for right now, the uptrend is what it is and must continue to be respected as such.

In conclusion, nothing much to add (as usual lately!).  I did note a few potential resistance zones on the chart above, but as I've said many times, until we see a clean impulsive decline, the trend remains up.  Trade safe.

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