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Friday, June 5, 2026

SPX Update: Not from Our Universe

Last update noted:
There are some early signs that maybe it wants a correction here (that's what prompted me to draw those potential support lines) but that's not guaranteed.

Those early signs did play out and the market declined.  Most of the time, I would expect another decline to follow.  You'll of course forgive me for being modestly gun-shy in the current environment.


Assuming that impulse is indeed wave A or 1 down, then the next targets would be as shown below:


In conclusion, we have a new "impulsive looking" decline, so we'll see if that gives bears a moment in the sun or if the market pulls the rug on them again.  Trade safe.

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