Friday, March 1, 2024

SPX Update: A Dull Market

There's really nothing to add to the past few updates:

We can see on the chart above that SPX is in the zone of retesting the all-time high, so while there's nothing in the pattern to indicate much one way or the other, classic technical analysis says that prior highs have the potential to act as resistance, so if bears are going to do anything, then now's the time.  I don't have much of a lean one way or the other at the moment for the near-term.  Intermediate term, I've already discussed the hurdles bears face, so nothing new on that front.  Trade safe.

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