Amazon

Monday, April 6, 2026

SPX and COMPQ: A Fair Number of Marbles

Interesting times.  Not a ton to add since last update, but SPX has made some progress, clearing the falling black trendline.  Red remains its next hurdle:



COMPQ is back-testing its intermediate and long-term trend lines:


In conclusion, there are a fair number of market marbles riding on these tests.  If SPX and COMPQ can sustain breakout back over resistance, there's a good chance the decline is over.  If it's rejected at this back-tests, then the market would be signaling that bears are, at least for the moment, waking up.  Trade safe.

No comments:

Post a Comment