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Wednesday, June 3, 2026

SPX Update: The Thin Red Lines

SPX has been grinding sideways up since Friday, so there isn't a ton new to say about it -- but I have added a few new horizontal support zones to keep up with the recent price action.

In the event the green channel breaks down, those will be zones worth watching.  Since we don't have any impulsive turns to draw projections from, this is about all we can do at this phase.




In conclusion, there's just not a lot to say about a market that behaves like this -- other than maybe: "market like this one are the reason trend channels were invented."  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.  Trade safe.

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