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The Importance of the Market's Long-Term Inflection Point


While the bulls still appear to have control, this update discusses some key price zones for the long-term.


The Nasdaq 100 (INDEXNASDAQ:NDX) also continues to highlight how critical the current zone is for bears to defend.

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Finally, the updated SPX chart. There may still be another small fourth and fifth wave left to wrap up, but this is where the short-term becomes a bit ambiguous. I remain in favor of an intermediate bullish resolution, but as I noted on Friday, this is not a time for bulls to be complacent, given the gravity of the current higher-degree inflection point. The chart notes some key levels and signals to watch.

Click to enlarge

In conclusion, it still appears more likely that the bulls will continue to own the intermediate term, but the bears definitely aren't out of the running yet. I do feel that bears need to make a stand in the fairly near future, or risk a more absolute long-term loss of control. I'm working on an article that discusses a bit more about the fundamental problems facing the governments of the world, and why being a long-term bull is challenging for most thinking people. I hope to have it ready for the next update, but I hoped that two updates ago. In the meantime, trade safe.

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