SPX, NYA, and the Beard Updates

Last update ended with us "watching to see if bears can do anything with this": and they did -- and didn't.  Bears got a nice decline but then bulls rushed in to buy, flush with fresh cash from predatory payday loans dropped from drone helicopters piloted by Ben "the Beard" Bernanke from his cave on Alcatraz.

Which means we're still basically in the same place we've been all week:

The triangle and WXY both remain live for now:

Finally, I want to call bears' attention to NYA, which I've mentioned a few times in conjunction with INDU going back to June 12, when I wrote:

[T]here's not a ton of cross-market agreement right now.  And that alone is cause to avoid complacency.  Bears probably want to see INDU break down again fairly directly or they could be in for a larger rally. 

That larger rally has since materialized -- and NYA is still cause for bears to be on guard, as explained below:

In conclusion, bears are clinging to technical hope for the time being, but they are running thin on real estate, so if they're going to get something going, they'll need to do so soon.  Trade safe.