Tuesday Update (6/30/20)

MTU Weekend Ed - Probing Support (6/26/20 close)

Wednesday Update (6/24/20)

Monday Update (6/22/20)

Bull and bear squiggles.

 

To supplement Mkt Man's comments on GE

MTU Weekend Ed. - Update (6/19/20 close)

Wednesday Update (6/17/20)

Tudesday Update (6/16/20)

Monday Update (6/15/20)

See the weekend update for context.

MTU Weekend Ed - Perspective (6/12/20 close)

Prices need to (water)fall below this past week's low to confirm a larger degree down-swing. 


Nasdaq mading new record highs this past week lends additional support to counting the rebound since the March low in SPX as a B-up wave or start of the new upswing, rather than a 2nd wave.

The sharp reversal this week opens the possibility that the next down wave in SPX has started, BUT from a failed high (orthodox high) to be in alignment with NDX .  See Chart 1.

For the week, SPX not only managed to test its 200-day moving average and the 2019 resistance now acting as potential support, but also close above them.   Price actions so far are also consistent with a moderate pull back, which we track as another wave X-down in SPX.  See Chart 2 green and Chart 3 green. 
 

Friday Update (6/12/20)

[250pm NYSE] -

Thursday Update (6/11/20)

[EOD] - 

[1010am NYSE] - 

Wednesday Update (6/10/20)

Tuesday Update (6/9/20)

Monday Update (6/8/20)

MTU Weekend Ed - Probing New High (6/5/20 close)

NDX made new all-time highs and SPX is trying to fill the February gap.

Thursday Update (6/4/20)

Wednesday Update (6/3/20)

Tuesday Update (6/2/20)

Monday Update (6/1/20)