Still not much to add. INDU is still backing and filling near its inflection zone. I like this chart in the current environment because it provides a clear visual reference for trend resistance. It's not unusual to see a market bounce along near a trend line (even bouncing higher) before reversing, so it provides a clearer visual guide to the inflection zone -- but it also gives fair warning to bear in the event INDU breaks and holds above that zone, as that would suggest a new burst of momentum higher.
NYA is in a similar position, but the trend line shown on NYA's chart isn't as meaningful as INDU (due to it being a shorter time frame):
In conclusion, while SPX ran a bit beyond its upside target from a month ago, that target is not the end-all to the current inflection zone, so moving a little beyond it is of minimal significance. INDU is probably a better guide at the moment, due to its rising trend line better capturing the dynamics. Trade safe.
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