SPX and INDU Updates: So Far, So Basically Okay

Last update noted that there weren't any clearly impulsive declines yet and hence another high for wave Y shouldn't be surprising -- and SPX did make another high since.  It has also reversed right off the Y inflection zone, which keeps things interesting:

Last update also noted that INDU's pattern would normally see lower prices before having a shot at recovery, so we'll see if bears can knock it down further on this round -- or if the market wants to mess with everyone's heads some more.

In conclusion, I've included targets for Wave C down -- IF this is indeed Wave C down -- but SPX was rejected right in the Y inflection zone just after making the anticipated new high... so that's about all that bears could ask for at this stage.  We'll see how it develops from here.  Trade safe.