Monday, December 23, 2019

SPX Update: Short and Sweet

I decided to do a brief update today, so then to take "the rest of the week" off really only means I'll be taking Friday off (since the market's closed on Wednesday anyway).

The main thing I wanted to update is the potential intermediate channel for SPX, if it sustains a breakout here:

In conclusion, SPX is challenging the upper edge of a long-term channel, and if it can clear this, that may be a signal that it's working the steeper green channel.  Note that because this is a challenge against a long-term channel, we'll need to see sustained trade and closes north of that channel to consider the breakout real.

Also, I'd like to wish all my readers Merry Christmas (and/or a generic "Happy Holidays" if you celebrate something else, or nothing else).  As has become tradition each year, here's a link to a piece I wrote 6 years ago, titled A Christmas Story -- Reflections on What Matters.

Have a happy and safe holiday.  :)

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