SPX Update

One of the values of identifying inflection zones in advance is that it can warn us of areas where the market may spend some time seemingly "making up its mind," so to speak.  The current inflection zone has certainly displayed that characteristic, with SPX largely running sideways for the past week:

On the trend line chart, one option to keep an eye on:  First resistance is the steeply falling blue channel, but if SPX breaks out of that channel, it could run to the lower boundary of the larger blue channel.  If it cannot sustain trade back into that channel, it could then reverse again and head back below Friday's lows.  If it can sustain trade back into that larger channel, then next meaningful resistance is the falling black line.

Big picture, we're still in the same place:

And even bigger picture, we have fallen down to an old horizontal support line:

In conclusion, SPX remains stalled in the inflection zone, so there's still not much to add.  Trade safe.