Commentary and chart analysis featuring Elliott Wave Theory, classic TA, and frequent doses of sarcasm from the author who first coined the term "QE Infinity." Published on Yahoo Finance, NASDAQ.com, Investing.com, etc.
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Friday, April 9, 2021
SPX, Drugs, and Rock n' Roll (or not)
So we had some brief fireworks on April 5, but this market has been a grind since then. Thus, no real change to the past few updates. Of minor note that near-term resistance has continued holding:
Big picture, we have the red trend line still undergoing its test:
Intermediate term, the green trend line now hangs beneath the market:
In conclusion, the last few sessions have been pretty dull, so nothing much to add at this point. Trade safe.
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