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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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