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Friday, July 19, 2024

SPX, INDU, COMPQ: Three Charts and the Truth

Last update discussed the conundrum, today I want to drill down and use the charts to illustrate it, and to discuss some things that may help map the way going forward -- starting with INDU.  INDU's near-term pattern is one of the main things keeping my bearish angels in check right now; the annotation explains why:



SPX discusses the options:



And with any luck, COMPQ may help point the way going forward:


In conclusion, those three charts probably say just about everything there is to say right now.  Trade safe.

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