Friday’s rally brought the market back above downtrending support lines, but did not break any significant trend resistance lines. I must assume that the bearish intermediate trend remains in force until more evidence to the contrary.
Here’s what we need to look for, including downside price and time projections and key resistance levels that must be broken to break the downtrend. Barring those breakthroughs, crash risk remains. (Non subscribers click here to access).
These reports are not investment advice. They are for informational purposes, intended for an audience of investment and trading professionals, and other experienced investors and traders. Chart pick performance changes week to week and past performance may not indicate future results, as you know. Trading involves risk, and these reports assume that you understand those risks and manage them according to your tolerance.