Commentary and chart analysis featuring Elliott Wave Theory, classic TA, and frequent doses of sarcasm.
Work published on Yahoo Finance, Nasdaq.com, Investing.com, RealClearMarkets, Minyanville, et al
Join the ongoing discussion with our friendly, knowledgeable, and collegial forum community here!
Amazon
Thursday, June 8, 2017
SPX and RUT: Just the Fax, Ma'am
Getting right to the charts, RUT still looks more bearish than bullish. If bulls could sustain a breakout, that would change, of course. The chart notes 1426, but the megaphone resistance line is probably more critical:
And SPX is in an inflection zone:
In conclusion, the dashed blue median line above, combined with the potential wave count, does present this as an inflection zone. If you're bearishly inclined, there is now a fairly clear zone to act against (2441ish). Trade safe.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment