Wednesday, July 1, 2020

SPX Update: No Material Change

Not much has changed since last update, except to note that SPX has rallied right up to the confluence of the red and black trend lines on the prior chart:

If blue B/2 is going to remain simple, then SPX could turn back lower fairly directly; conversely, if B/2 is going to become complex, then it may rally toward the higher black trendline of the upsloping black trend channel (second B/2 label).

Beyond that, no change.  Trade safe.

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