SPX and INDU Updates

Since last update, bears did stall the rally for a bit, but the decline that formed is not clearly impulsive.  Note this does NOT say "clearly not impulsive," it says "not clearly impulsive," which means it doesn't appear to be an impulse but I can't rule that out.  We also cannot currently rule out that it's a partial structure (for example, 1-2 down, not a complete impulse).

But... it's "not clearly impulsive," so we shouldn't be surprised if SPX just rallies up to another high here.  No change on the SPX chart.  Y could support another high, though doesn't need it.

INDU is more interesting:

On Monday, a reader asked if Y needs to make a new ATH, and it does not -- in fact, in bears' best world, it would not.  Not much else to add beyond that.  Trade safe.