Friday, May 31, 2019

SPX and INDU Updates: No Change

No change whatsoever from recent updates.  Worth noting that INDU's 38.2% retrace sits near 24,770, which may provoke some kind of reaction from the market.  Other than that, nothing to add, so I've simply updated the price action on the charts:

Classic TA view:

And SPX:

In conclusion, nothing to add.  Last few update discussed that there was (as there often is) potential for a complex corrective wave, and that option still remains on the table, but will diminish the lower the market goes.  It still remains a case of "pay me now or pay me later," and all roads still point lower for the time being.  Trade safe.

No comments:

Post a Comment