Wednesday, June 5, 2024

SPX Update: No Gnus is Good Gnus

Not much has happened since last update, so no change and nothing to add:

Last update's conclusion is probably worth repeating as well:

In conclusion, keep in mind that even if SPX does go on to new highs (never guaranteed, of course), we're getting into the general ballpark where a larger correction could show up anytime, so new highs would not necessarily be a good thing for bulls in the longer run. That said, given the general irrationality of the market this year, if new highs do manifest, it still may be wise to await an impulsive turn lower before getting too crazy on the bear side.

Trade safe. 

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