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Friday, April 25, 2025

SPX, COMPQ, NYA: Upside Inflection Zone

So the market has now bounced from its downside trend support zone all the way up to its upside trend resistance zone.  We should pay attention to the winner of this battle:


Note that COMPQ is still a ways from getting back into its uptrend... but again, don't ignore it if it DOES get back in:



Finally, NYA is also in the zone of potential resistance (from here to horizontal black):


In conclusion, if bears still have gas in the tank, they probably want to mount a defense of these zones.  If they can't, then we should not ignore that -- so let's see how the market handles this.  Trade safe.

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