SPX, INDU, COMPQ: What Bulls Need to Do Next

Last update noted it would be okay if SPX fell back into its target zone again as long as it didn't sustain trade below it.  While it did trade briefly below it, it then bounced immediately.  The question now is whether this is finally a lasting bottom, so let's outline what bulls would need to do to signal that.

The first near-term goal is for SPX to sustain trade north of the falling black trend channel:

Looking at it from the other direction, bears still want to see sustained trade below blue:

INDU is also bouncing off its target:

COMPQ is in a kind of no-man's land.  Here, bulls need to get back above the three broken trend lines:

In conclusion, SPX and INDU captured their targets and bounced... but so far, SPX has only rallied back up to resistance.  It needs to clear black first, for bulls to signal they mean a bit more business.  If it can do that, then it will likely head toward next resistance: the upper red channel boundary (first chart).  If it can't, clear its resistance zones, then the extended C target will remain on the table.  Trade safe.