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Re: None

Monday, 06/21/2021 9:36:09 AM

Monday, June 21, 2021 9:36:09 AM

Post# of 5495


http://www.pretzelcharts.com/

"So we have an interesting situation now, as INDU has reached its first downside target, while SPX and NYA are hovering in no-man's land. INDU to start:"



"SPX captured its next short-term target, and is going to bounce to open the session:"



"NYA is above the zone it "should" reach if it's forming a more complex 4 (or something more, obviously). In the unusual event it were to reverse here and head up to a new ATH, then we'd have to consider bull nest or diagonal as options."



"Finally, a quick update on gold, which broke down from the noted trend channel and dropped straight to the next support line on the legacy gold chart:"



"In conclusion, INDU reached its first downside target, based on the pattern observation of exactly one month ago, and this does always present the option for things to be "done" -- so while I'd prefer to see NYA and SPX follow suit, we'd still be wise to pay attention to how they react to overhead resistance for some additional confirmation. Trade safe."

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