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Wednesday, May 13, 2026

SPX and INDU: A Quiet Normal Life

Since last update, SPX ran a bit higher, reversed, and then rebounded into the ballpark of the prior high.  It's possible that this is the black correction I sketched it, just unfolding from slightly higher prices than when I first sketched it.

SPX did break the green uptrend line, but it's unclear whether the high is a b-wave or not.  In the event it's not (or in the event of a complex flat), it could play out like this (though it's very early and there's not a lot to draw from yet, so don't lean on this too heavily):


INDU, of course, still remains below blue, where it will apparently quietly live out the remainder of its life as an index.


Not much else to add beyond that -- yet.  Trade safe.

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