Was the market even open on Friday? There are rumors that it was, but no one seems to know for certain and the charts can't confirm or deny, since there was essentially no price movement. We'll assume, for sake of argument, that it was open. However, the truth is, the market action of Friday barely justifies my effort to even produce this update. But I shall plow ahead diligently nonetheless, with a confident proclamation that I would normally only deploy defensively in urban environments. Which is:
"No change." Sorry. I only carry credit cards!
So, first up is SPX -- same as Friday:
To add some variety, next up is a temperature chart from 1975. It's interesting to compare this chart to modern charts, which portray the temperature from 1940 to 1970 quite differently, despite the fact that time travel has yet to be invented... which means they have to be working from the exact same extant dataset (we can't go back in time and take new measurements, after all). Yet somehow the same core data is portrayed quite differently nowadays:
And finally, SPX again. My comment on Friday was: "Bigger picture, this is still a potential resistance zone, so we'll see if SPX does any more backing and filling here or not:"
In conclusion, obviously there is nothing to add since Friday -- or really, to most of the last few weeks. Trade safe.
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