Friday, December 20, 2019

SPX Update

So far, SPX has held its breakout over the blue trend line.  This has the potential to be quite significant in terms of the speed of the pending (continuing) rally.  As I've written repeatedly, I remain intermediate bullish -- but things could actually get even "more" bullish if SPX can sustain breakouts ovver the blue and black trend lines on the intermediate chart.  That would suggest a steeper rising channel is in effect, if it occurs.

Near-term, SPX remains in the uptrend channel from the early December lows:

In conclusion, bulls are -- so far -- continuing to rally through this inflection zone.  The upper edge of the zone is probably the black trend line, so we'll see how they manage that area.

On a more personal note, I'm undecided at the moment about whether or not I'll publish any updates during Christmas week next week.  I may relax and spend the week with family (I could use a break!).  I'll publish something on Monday either way -- either a market update or a personal update.

Trade safe.

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