Monday, April 29, 2019

SPX Update: Short and Sweet

There's little changed, so no need for a circumloquacious update today.  Last update noted that "there's nothing definitively bearish about the charts yet," and that there were as yet no impulsive declines -- and Friday's session confirmed both points, late in the session, with new highs.

That remains the case, and the wave structure is such that any immediate decline would likely end up being a buy op.

In conclusion, beyond the things noted on the chart above, there's still not much to add.  The market is still facing resistance, which means that bears could always show up at the last minute and we do need to remain alert to that -- but as of right now, they have not shown up.  Trade safe.

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