E-Wave for the S&P 500 Index

[RCKS]

".....SPX is paused between old long-term resistance and near-term support, so we'll see who blinks first...."

http://www.pretzelcharts.com/

The market's done essentially nothing since last update, so it's about time for my ~monthly reminder about the chart note (I don't even need to update the October annotation) from September:



Near-term, for smoothest sailing, bulls would like to continue holding above blue:



But really, the red line on this next chart is probably a bit more significant than the blue line on that near-term chart, though they're not too far apart:



So those are the near-term support zones -- meanwhile, what stalled the market here is the line that I called out last update:



In conclusion, SPX is paused between old long-term resistance and near-term support, so we'll see who blinks first. Trade safe.