SPX and INDU: Ape Roll Begins

Yesterday was the first day of Ape Roll, which is always challenging, since you have to hope someone who's part of a small group asks you what month it is, just so you can give the traditional reply, "It's April, fools!"  (If only one person asks, you can say, "It's April, fool!" but you're violating tradition.)

We're just going to look at two charts today, to narrow the focus, starting with INDU.  INDU has shown relative strength over the past couple sessions.  The chart notes the next important levels:

Next is SPX, which broke its prior low, but did not sustain trade (or closes, obviously) below that zone:

In conclusion, be aware that if bears can stall this bounce and reverse back below the recent lows, we could be in for an ugly decline in the wake of that.  The bullish near-term option might see SPX make another run at black... which could even open up more bullish options were that to occur.  But the big key now seems to be for bulls to hold those recent lows long enough to get a bounce going.  Trade safe.