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


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


Click to enlarge

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.

Click to enlarge

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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