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Monday, July 20, 2026

SPX and INDU: INDU Hits First Projected Target, What Now?

The market has continued to be exceptionally weird, but so far, it's performed in-line directionally with the WXY count.  The chart below outlines some contingencies looking out into the future, since I'll be taking some personal time on Wednesday and Friday and the updates will return on Monday.


INDU did break the low I flagged as likely to be broken, but the wave is still a little shorter than ideal.  Not impossible for it to end there, but normally I'd think it's either not done yet or something along the lines of the black sketch is in store:


In conclusion, I've tried to cover the bases in the event the WXY goes off the rails, but so far, it's done what bears would hope.  That doesn't guarantee anything, especially as strange as this market has been, but it's obviously preferable to it having blown through the ATH and ignored the count entirely.  At least the inflection zone was good.  I'll see you on Monday -- trade safe.

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