SPX, INDU, COMPQ: And Then It Got Interesting

We've been watching the potential of a complex expanded flat since December 8, and that option just jumped itself back awake.

Now, it's NOT a "given" yet, but it's very much live at the moment.  There are basically two main options here: 

1. The complex flat

2. A b-wave high at lower degree

Option 2, the b-wave high, has a lot of leeway as to where it could bottom, if that's what we're looking at. In fact, it could bottom basically anywhere north of the November low.  Conversely, the complex flat (option 1) basically needs to at least test or break the November low.  Right now, it's hard to assign hard odds to which option's unfolding.  The next couple sessions will hopefully help clarify.

Next up, COMPQ came close to its target.  It's in a similar boat to SPX:

INDU has been stronger than either of these other two markets, and also has clearer near-term support lines:

In conclusion, we can't yet make the assumption that this is the complex flat -- the high is just too wonky for that clean a read.  But it's a live possibility, at least.  Hopefully the next couple sessions will help with assigning additional odds one way or the other.  Trade safe.