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Wednesday, October 30, 2024

SPX Update (-ish)

The market was closed the past two sessions, at least in spirit.  It went nowhere, though apparently it was open, technically speaking.

Accordingly, there's really not much to add, except to note that if this is indeed the triangle I speculated about in Monday's update, the last two sessions are what you'd expect to see.


Do be aware that there's one wacky way to count this that would have the abcd all done on the triangle and just e remaining before a breakout.  Lower probability but not impossible.  Below 5800 would take that off the table.

In conclusion, there's no real reason to update any charts at all, given the last two sessions, but I updated the SPX chart anyway.  Since nothing happened, there's nothing to add, and please refer back to the prior update for more details if needed.  Trade safe.

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