Since last update, SPX dipped a quick toe below last week's low (though ES held above the comparable low).
Let's look at a long-term chart we haven't looked at in a while:
Near-term, SPX is still testing the edge:
COMPQ remains above long-term support:
INDU remains below its first support zone, but above its second:
Finally, it might be time to force bulls into a rally -- by bringing out this old, very bearish chart. In the event this IS a diagonal, when the diagonal completes, a trip back below Dow 20K would be the normal result (not all in the same day, obviously -- but probably over a couple years):
In conclusion, not much else to add here -- the market remains above most of its key levels, at least for now. The inclusion of the most bearish chart in my chartbook might force the market to rally today (I'm joking... sort of). Trade safe.
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