Monday, August 30, 2021

SPX and NYA Updates

On Friday, I warned that bulls needed to get moving, and SPX rallied to new ATHs, but then stalled at the oft-discussed black trend line:

NYA rallied up to red:

This week could finally resolve this months-long range. SPX is still sitting inside its target/inflection zone, so bears still have a shot to push back, but if they can't offer resistance, a sustained breakout has the potential to trigger the market into an extended fifth.  Trade safe.

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