So never mind. That wasn't what I was going to say, but I always believe predictive text, so I guess it was a false alarm anyway. Whew, that was a close one! But this means we're free to get right into the charts!
First up is COMPQ, which held its key trend line and bounced, so nothing new to add:
Next is INDU, which captured its 2nd downside target zone and bounced:
Finally, SPX, which held its key level and bounced, then captured (and since exceeded) both its upside targets.
Hopefully all those levels and targets were helpful to readers. Going forward, as we can see, there are two viable counts in SPX (for now) and they're diametrically opposed -- which means it may be best to watch the next key levels (blue 3 on the upside, ~5483 on the downside). We can also see that if bulls exceed the prior all-time high, that doesn't necessarily mean a lot for them, because that could well complete blue 5 and end up going nowhere. Bulls would need to hope for an extended fifth to keep things running (over the near-term, anyway) after a new ATH. Trade safe.
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