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Wednesday, April 14, 2021

SPX and COMPQ Updates

Last update didn't have too much to add, except for a little bit about COMPQ, which is now entering its inflection zone:





SPX has continued reacting to near-term support and resistance lines on the chart below:



Still no change to the big picture:



In conclusion, still just a "ride the trend" market for now... it's starting to feel like the oft-discussed extended fifth wave may be brewing, though it's too soon to say for certain.  Trade safe.
Posted by Pretzel at 3:30 AM

2 comments:

  1. gdlApril 14, 2021 at 6:04 PM

    Powell on TV talking down the dollar and yields with his promise to ignore inflation for next 2 years! Something BIG is coming. Front running this and trying to manipulate markets. The street knows better and will react to what it sees and if the FED ignores the data markets will react violently. WHEN? Within 3 months is best guess.

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  2. gdlApril 15, 2021 at 4:26 PM

    Add CPI last 2 months spiked, retail sales spiked, Powell's own estimate of GDP over 6%. Earnings spiked! And yet the dollar and yields going nowhere? Like saying on earth gravity sometimes works. In this case clearly there is no pull on those two.

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