INDU and COMPQ Updates

Since last update, the market declined slightly, but still not a ton to add to the last few weeks of updates.

COMPQ dropped down to its support line, which has held so far:

INDU fell back through blue for the moment, but is holding the black channel:

In conclusion, as noted for weeks, there's probably still at least one more 4/5 unwind needed to new highs, so we may have just seen (or still be within) that fourth wave, with five up to new highs still to come.  After that, things will start to get a little trickier again.  Of course, if there are breakdowns before then, then either a deeper fourth wave is unfolding or something more bearish -- but we'll worry about that if it becomes necessary.  Trade safe.