Nothing to add to the past couple updates, except to note that SPX made a new high, confirming the read that it had only formed three waves down and that north of the blue line would be trouble for bears. I can't find the live chart to update, so I'll just reprint that chart briefly. More than anything, this serves as the 8,347th reminder for "why I like to await an impulsive decline before getting too bearish."
SPX is still hovering near its first inflection zone:
As is INDU:
So not much to add here, other than to note that awaiting an impulsive decline is still a good idea, as it's as yet unclear whether the market is ready to start topping yet or not. Trade safe.
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