Wednesday, May 22, 2019

SPX and INDU: Bears on Deck?

Still  no material change, as bears have continued to hold the first key level.  There is potential for a large move down over the next few sessions.  SPX discusses initial targets:

Not updating the INDU chart until I need to, because Stockcharts will mess with it when I do:

In conclusion, everything is "lined up" as well as it can be for bears, all they need to do is take advantage of it.  Note that a sustained breakout over 2893 would not necessarily kill the bear case, since the first option would be a bearish ending diagonal... but it would call for bear caution.  Trade safe.

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