Monday, April 19, 2021

SPX, COMPQ, NYA: Tagging Resistance

So a few markets now are testing resistance zones.

COMPQ, as previously discussed:



And SPX:

We do not yet have any impulsive declines to form a more concrete opinion, but if resistance behaves as resistance (which it does not always do -- otherwise, there would be no bull markets, just centuries of sideways grind), the market may pause/correct a bit here.  We'll be on alert for an impulsive turn to signal whether that's going to happen in this case or not.  Trade safe.

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