SPX went the right direction, but has so far held above the low of the prior (presumed) impulse down:
INDU continues to show that bulls probably still have the long-term ball (for now), but bears do have two intermediate options that could generate large declines in the meantime:
Below is BKX, and again, this is not a "prediction," just a reminder to the most bearish possibility. The most bearish BKX option could pair with either of the intermediate bear options in INDU:
In conclusion, the market has behaved as expected so far, though I'd like to see SPX capture its next targets as well. Trade safe.
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