Wednesday, October 16, 2019

SPX and INDU: No Material Change

Not much to add since yesterday.  It still remains to be seen if the rally will be three waves from 2855, or turn into a five-wave impulsive form.

Interesting to note that SPX has slightly whipsawed the breakout over the rising blue trend line.  Bulls would like to reclaim and hold that line:

A similar situation in INDU with red horizontal resistance:

In conclusion, no material change from yesterday's update.  Trade safe.

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