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Wednesday, November 27, 2024

SPX Update: Three Down Confirmed

SPX finally made a new all-time high, which confirms that the decline was just three waves down (as suspected on Nov. 18) and not an impulsive turn lower:



I've published a lot of long-term charts over the past week or so, so there really isn't anything to add on that front, but here's the SPX extended fifth chart again anyway:


In conclusion, until there's an impulsive turn lower, there's really not much else to do other than keep tracking the uptrend.  Trade safe.

Oh, p.s.- I typically take the Friday after Thanksgiving off, since it's a short session and it gives me a bit more uninterrupted time with my family over the holiday without "thinking market thoughts," so I'll likely do that again.  Happy Thanksgiving to everyone!

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