Wednesday, July 17, 2019

SPX Update: Market Still in Inflection Zone

Not much to add since last update, except to note that the market has at least encountered some resistance at the noted inflection zone:

Near-term, there's not much to analyze yet from an Elliott Wave perspective, so I've sketched some of the potential support/resistance zones below:

In conclusion, the market has reacted to the inflection zone, but so far, there's not much data to be gleaned from this (so far) minor reaction.  If bears can form an impulsive decline, then we'll have a little more to work with.  Trade safe.

No comments:

Post a Comment