Monday, September 12, 2022

SPX Update: No Material Change

Not much to add since last update, so let's get right into the charts:

From a wave perspective, this could still be a second wave or a lower degree fourth wave (the fourth wave stays on the table until SPX price overlaps the thick black horizontal on the chart below).

In conclusion, last update noted that if SPX could sustain a breakout of the purple channel (first chart), then 4100ish would be next resistance, and futures have already reached the cash equivalent zone, which stretches up to about 4121, so we'll see if this area offers any resistance.  Trade safe.

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