MTU Weekend Ed - Reaction (6/23/23 Close)

 SPX is pulling back within the channel after a 4-week run. 

 

 

 

MTU Weekend Ed - Channel (6/16/23 close)

(From last week) - "SPX has remained above major resistance for a second week, but the upswing since Oct 2022 has also remained in channel."

Now, SPX is probing the channel. 

 

MTU Weekend Ed - Resistance and Channel (6/9/23)

SPX has remained above major resistance for a second week, but the upswing since Oct 2022 has also remained in channel (Chart 1), so far.  Three waves up since Oct 2022. Three waves up since the March low - perhaps can be counted as a single five since the March low (Chart 2 blue)

MTU Weekend Ed. - Closed over Resistance Zone (6/2/23 close)

SPX finally closed over its key resistance zone, which has reined in advances since the Oct 2022 bottom.