Monday, December 16, 2019

SPX Update: No Change

Last update noted that we were reaching an inflection point, and it looks like today we'll get more officially into that zone.  (I had also mentioned that I would prefer to see higher prices.)  Keep in mind that this inflection zone is ultimately expected to resolve higher, the question is "now or later."  Today looks primed to open into the blue trend line.

Near-term, there is room to run inside the old channel:

In conclusion, no material change since Friday, except to note that the expected new high is playing out.  Trade safe.

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