Sunday, February 11, 2024

COMPQ and INDU: MDF Monday

Yesterday, I came down with the aptly named Martian Death Flu (okay, that name is made up; but it's NOT Covid, likely just a bad sinus infection) -- the first time I've had a head cold in like 5 or 6 years.  Now, I'm not telling you this for sympathy, I'm telling you this because I've been running a fever on and off and have been generally feeling like I was run over by dump truck, so today's update is just going to be a couple of updated charts with nothing in the way of new commentary (I feel like giving market reads with a fever is probably irresponsible).  I debated "calling in" today and not doing an update at all, but that's not really my style.

COMPQ has run farther into its target zone:

INDU still has a shot at this pattern -- but again, keep in mind it could be much more bullish than this, if this is a traditional third wave:

So, not much to add -- but I do want to remind bears that it's entirely possible for the market to blow through this first inflection zone, so (as I've said many times before), awaiting an impulsive decline is not a bad strategy.  Trade safe.

No comments:

Post a Comment