Friday, June 28, 2019

SPX and INDU: Market Stuck on Pause Since Last Update...

Unfortunately for all of us, there's been no material change since the last update.  The market has simply spent the past few session range-bound in a sideways grind (in fact, it's only moved 7 points in absolute terms since Wednesday).  As I noted in the last update, bears do not yet have an impulsive decline to latch on to, and that remains the case as Friday begins:

INDU has likewise not broken through its first meaningful support zone yet:

In conclusion, there's no material change from the last update, and the market is stuck in something of a no-man's-land.  Hopefully things will resolve in the next few sessions.  Trade safe.

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