Monday, March 18, 2024

SPX Update

On Friday, bears finally managed to get below the blue trend line, but as I wrote in the last update:
at this point, it's not impossible for the market to drift sideways through it without doing much technical damage, which is why I (today) added 5119 as relevant; probably even more relevant than blue now. Though even 5119 isn't unrecoverable for bulls, sustained trade beneath it would at least be a "start" for bears.
Thus, today will probably determine if bears are going to do anything with the situation:

Really, not a lot to say beyond that and everything I've said over the past weeks -- for now.  Trade safe.

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