SPX, INDU, COMPQ: Test Time

Last update noted that INDU had finally cleared its long-term rising resistance line, which is bullish as long as bulls are able to hold above that zone:

SPX could be in one of its presumed fourth waves, but if it overlaps the black horizontal KO, then that would be a warning sign for bulls:

Interestingly, the outlier chart is still an outlier, as COMPQ has so far failed to clear its prior high.  Getting above that high would give bulls more breathing room, because below it (where we are now) still leaves open options for a much deeper decline, potentially comparable to the July/August decline:

In conclusion, this is bulls' first test since the breakout, and the zones to watch seem reasonably clear, so we'll see how they handle it.  Trade safe.