Monday, January 11, 2021

SPX Update: No Change

Friday saw SPX back-test its most recent breakout (the blue trend line on the chart below), where it found support before rallying back up to new all-time highs:

SPX is thus currently still holding above the intermediate trend line:

In conclusion, we could see a bit more hemming and hawing around the IT trend line, but unless bears can whipsaw this breakout, there's no material change from the prior updates.  Trade safe.