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Monday, April 28, 2025

SPX, COMPQ, and INDU: Mixed Market

Since last update, SPX has sneaked over its potential trend resistance lines, so bears have a brief window to reverse this or else they probably need to await an impulsive decline (because the pattern does allow for an ongoing rally if there's no reversal soon):



The two markets keeping this from being a slam-dunk for bulls (yet) are INDU and COMPQ.  INDU first:



And COMPQ, which still hasn't back-tested its long-term uptrend break:



In conclusion, SPX has not gone bears way and they need to be aware of that.  They probably need a reversal fairly soon to keep their near-term (and perhaps even intermediate term) hopes alive.  Trade safe.

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