There have been some interesting developments in the charts, so let's get right to them, starting with INDU:
Next is the near-term SPX:
And finally, COMPQ, which has bounced up to the next potential resistance line:
Last update ended with the following:
In conclusion, the markets captured the "one more wave up" that I was leaning toward before the election, so there aren't any more "obvious" waves up still needed, and if the pattern wanted to reverse from here, it's free to do so. Thus far, we don't have an impulse down, though, either -- so I don't presently have any hard targets until the market either proves it wants to change trend or shows it wants to keep the decline as a three-wave correction. I'll be watching closely how this develops over the next few sessions, though.
No change to that yet, so we'll see how it shakes out from here. Trade safe.
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