Wednesday Update (9/30/20)

 Month end and quarter end 

Monday Update (9/28/20)

Probing SMA50 from below

MTU Weekend Update - Suspense (9/25/20 close)

 

Thursday Update (9/24/20)

 

Wednesday Update (9/23/20)

 

Tuesday Update (9/22/20)

 

Monday Update (9/21/20)

 A key MA, which SPX traded below all day, is now potential resistance.  See the weekend update for additional details.

MTU Weekend Ed. - Down Swing (9/18/20)

 A down swing correcting the upswing since March is likely in progress. 

SPX made a lower low on the daily chart and the weekly chart.  At the low on Friday, SPX was within 10 index points of breaching the August low. 

The 200-day SMA at 3100 is a convenient retest point and there is an unfilled gap on the daily chart just under 2900. 

Wednesday Update (9/16/20)

 Potential EDT to end the rebound or the first leg of the upswing. 

MTU Weekend Ed. - Building Blocks (9/11/20 close)

 

Wednesday Update (9/9/20)

 

MTU Weekend Ed. - Reaction (9/4/20 close)

 SPX reacted at the touch of a multi-year line and at the breach of the upper Bollinger band (Chart 1).

If the market chooses to reverse, this would be a convenient place for  the conclusion of a three-wave rise since March, tracked here as WXY.  If the market chooses to extend the rally, a potential triple-three may be in play.  See Chart 2. 

The squiggles from the high have been ambiguous.  But so have been those from past major highs, including the Feb high.  See Chart 3. 

Thursday Update (9/3/20)

 No change in the big picture.  Mind the several unfilled gaps below.