SPX and INDU Updates: Still in the Channel

Last update outlined the next zones to watch, while noting that SPX had not broken any meaningful support levels.  And that remains the case.  SPX then spent most of last session bouncing sideways/up and looks poised to open this week higher.  The blue channel remains active for now.

INDU managed to rally back into the wedge -- if bulls can hold this, it would suggest more gas still in the tank for now.

In conclusion, so far bulls have held the levels they needed to hold -- and as long as they continue to do so, then there's still little for bears to get excited about.  Trade safe.