Wednesday, February 23, 2022

SPX and COMPQ: Downside Targets Captured

Yesterday, COMPQ and SPX both captured their respective target/inflection zones.  Below is COMPQ's chart from 2/16:

Here's that same chart today:

In a similar way, SPX tagged its most recent 3/C label:

In conclusion, recent downside targets have been captured, now we find out if the market intends to turn this decline into an impulse, or keep it corrective and put together a larger bounce.  In other words, the "easy" money may be over for the moment, and it's up to the market to declare its next intentions.  Trade safe.

No comments:

Post a Comment