MTU Month End Ed - Red Line (9/27/19 close)

The red line has so far served as viable resistance against the upswing from the August low in SPX.  Note that the red line is upward sloping, the extent of advance over the past two months raises the question whether the potential megaphone is complete.   With this past week's drop, SPX is currently sitting on its SMA50 and also tests its late 2018 high and May 2019 high.

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