Wednesday, November 9, 2022

SPX, INDU, BKX: INDU May Offer Clues

There isn't a ton to add to the prior update, but there is one notable chart development since then, in INDU, which has already rallied back above its November high:

BKX has retested its high, but not cleared it yet:

SPX indeed found support at the noted zone:

And no change to the big picture:

In conclusion, not a lot to add to the prior update, except to note that INDU has made new highs for November, which implies it still needs more upside one way or another -- which in turn suggests that SPX and BKX may ultimately (see potential paths again) reclaim their November highs as well.  Trade safe.

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