Friday, October 25, 2019

SPX and INDU Updates

Most anything worth adding has been noted on the charts, so let's get right to them.  We'll start with INDU, which has stalled and declined while SPX has moved sideways-up:

In the wider view, INDU is in a large compression pattern stretching back to July:

And still below its key level (the all time high) on the big picture:

SPX has formed a wedge-like pattern recently:

In conclusion, we're still stalled in no-man's land, but bulls do need to get INDU back on track so it doesn't keep threatening to drag SPX down over the near-term.  Trade safe.

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