SPX, COMPQ, INDU Updates: Bulls on Fumes

Last update again called attention to INDU's long-term blue trend line as the zone bulls would need to reclaim to keep their hopes alive for the near term, but that trend line proved too much for them and acted as resistance:

COMPQ has now effectively completed its blue "more bearish" projection from January:

Big picture, bulls are trying (again) to stage a rally, this time at COMPQ's first meaningful overlap.  It's almost like the market knows where these levels are (wink):

SPX has now captured its first diagonal target:

In conclusion, COMPQ and SPX have now both captured their "more bearish" targets.  This leaves the two options discussed in brief on the SPX chart.  The most bearish option now shifts from "decent correction" to "major bear market may have just started."  Due to the lack of sustained trade beneath any of the key overlaps (and a few other things), I'm going to hold off on at making that call just yet -- but just know that it's actually on the table in a very real way now, for the first time in years.  We'll see how the market handles things from here.  Trade safe.