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SPX, INDU, Oil: Bulls Need to Find Support Soon

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The market is approaching a potential inflection point. If bulls can't find support quickly, things could get ugly.

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Finally, the SPX hourly trend line chart below. It will be interesting to see if the market reacts to the confluence of trend lines in the 1390-1400 zone.


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In conclusion, bulls likely need to find support quickly, or risk... I was going to say "hibernation," but that's what bears do. What do bulls do? Get castrated? Should I say, "or risk castration?" Whatever; you get the point. If this wave is going to find a bottom, it is now in a zone where that becomes more likely. Trade safe.

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No positions in stocks mentioned.
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