First the Dow, the lower low this morning produced a visual five down in the INDU (Chart 1). Has the Dow topped or is the recent pullback an ending wave of a larger EDT since February? (Chart 2).
Chart 3 maps the proposed EDT in INDU into SPX. A decent pairing.
In the meantime, the red trend line in Chart 4 presents potential resistance to SPX.
[1105am] SPX update -
