No material change from last update. Both INDU and SPX tagged the expected price zones, and those zones did offer resistance, leading to a red day yesterday. Futures this morning are suggesting a gap-up green open, but as of this writing, the futures have not yet exceeded Monday's high, so it will be interesting to see if the open is a gift for bears, or if the cash market can power through resistance.
I've noted some potential targets in the event bulls can sustain a breakout:
SPX is in a very similar position to INDU, with similar potential targets in the event of a breakout:
Big picture, everything moves much more slowly, and still no change regarding the recent inflection point -- which did, of course, offer strong resistance on the first attempt. Which means that the market likewise "recognized" the inflection.
In conclusion, no real change since last update, except that the first noted near-term inflection zone has since been acknowledged by the market. However, that is/was only a near-term zone with no guarantee it becomes more than that -- today should answer that question. Trade safe.
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