Monday, September 11, 2023

SPX Update

Since capturing its downside targets, SPX has continued bouncing.  I've noted the next upside targets on the near-term chart:

Bigger picture, bears do still need to ultimately claim the green trend line, and while the bear options look better given the overlap at the blue a/1 high (on the chart above), until that green line fails, we can't entirely rule out bull options such as an ending diagonal (with the apparent three wave rally being wave i of the diagonal) and so on:

Not much to add beyond that, other than to pay respects to 9/11.  Trade safe.

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