SPX Update: C'mon Feel the Noise

A week ago, I wrote: "until there's a breakout or breakdown, pretty much everything in-between is noise."

And yeah, that's still the case.  But again, so far, bulls are doing what they need to do and bears have been unable to accomplish much of anything.  Long-term, SPX is above its most recent breakout:

Near-term, SPX is above blue support AND black support:

In conclusion, this remains a congestion zone that, so far, has been finding enough buyers to hold the market aloft.  The implication of such zones is that buyers and sellers have reached approximate equilibrium, so whoever gives first loses -- just be aware that can happen quickly (in either direction) when it finally happens.  Trade safe.