Friday, September 13, 2019

SPX and INDU: Long-term Implications of Current Inflection

SPX finally validated September 6 call for a new high toward 3000 and captured/exceeded that target, putting it within striking distance of the all-time high.  INDU is also flirting with its all time high.  Trade above these all time highs may have long-term implications.  INDU first:

INDU near-term:


In conclusion, the all-time high is likely an important long-term inflection point.  If bears have anything left to offer, they need to pull out the big guns and make a stand here.  Trade safe.

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