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Wednesday, July 5, 2023

SPX, NYA, COMPQ: Second Verse, Same as the First

The market barely moved during Monday's short session, so I'm not going to strain myself trying to think of something new and exciting to say, since there's literally nothing to add to Monday's update.  I have updated the charts with the latest price action, but there's nothing else to do beyond that.

In italics is the same text from Monday's update:

SPX cleared its most recent high on Friday, as did NYA, putting NYA closer to its significant level (blue (C)).



SPX may have cut its last fourth wave a bit short -- though could still form an expanded flat to create a larger fourth wave:



And last but not least, COMPQ is finally back testing the very long-term trend line we've been watching for a year or so:



In conclusion, not much to add to the past few updates. We're still watching 16223 in NYA closely.  I look forward to the day when the market allows me to stop repeating myself,

I look forward to the day when the market allows me to stop repeating myself.

Trade safe.

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