SPX, INDU, COMPQ: Detailing the Bear Case (again)

So the market has remained range-bound, but I'm going to rehash some of the bear options I've covered over the past few months, since they're worth revisiting.  Let's start with the oldest one: SPX -- but I've drawn a new chart to help readers.  Because it finally feels like the right time to actually draw this chart, for whatever that ends up meaning (it just feels like the market finally wants to do something soon, one way or the other. Maybe lol.).

The old chart is unchanged:

INDU's chart discusses its options:

Finally, COMPQ again:

In conclusion, SPX's most recent rally was a clear three wave structure -- so far.  Which means bulls probably don't want to see a sustained break of 6775 now, because that would put the option of a bear nest on the table and could lead to a rapid drop.  Note that a RETEST of the ~6775 zone is still an option, so a slight break wouldn't be the complete end of the world yet.  But a sustained breakdown on accelerating momentum would point toward the expanded flat and ~6356.  Trade safe.