Wednesday, July 20, 2016 10:55:09 AM
SPX & NYA Updates
http://www.pretzelcharts.com/
"On Sunday night, I ended up missing a flight, and trapped somewhere without a computer, so I was unable to publish an update for Monday. Given what the market's done over the past couple sessions, it doesn't appear that it would have been a critical update anyway.
Let's get right to the charts and start with NYA, because it shows a specific near-term pattern:"
"On the bigger view, recall that I mentioned (on 7/15) that NYA could encounter resistance in this zone, which it has. Whether this will prove to be more than short-term resistance remains to be seen:"
"Moving on to SPX, the question on everyone's mind (including mine) is: Is the preferred count of the past few months dead? I attempt to address that on the chart below:"
"In conclusion, this is one update where the charts pretty much say it all. Trade safe."
http://www.pretzelcharts.com/
"On Sunday night, I ended up missing a flight, and trapped somewhere without a computer, so I was unable to publish an update for Monday. Given what the market's done over the past couple sessions, it doesn't appear that it would have been a critical update anyway.
Let's get right to the charts and start with NYA, because it shows a specific near-term pattern:"
"On the bigger view, recall that I mentioned (on 7/15) that NYA could encounter resistance in this zone, which it has. Whether this will prove to be more than short-term resistance remains to be seen:"
"Moving on to SPX, the question on everyone's mind (including mine) is: Is the preferred count of the past few months dead? I attempt to address that on the chart below:"
"In conclusion, this is one update where the charts pretty much say it all. Trade safe."
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