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Trading On The Mark
The Day Ahead: AM Edition 2022-07-29

The Day Ahead: AM Edition 2022-07-29

Equity indices have a fight over an early target for corrective bounce

Jul 29, 2022
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Trading On The Mark
Trading On The Mark
The Day Ahead: AM Edition 2022-07-29
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S&P 500

SPX is up against an early target for (c) of [b] today at 4115 which is (c)=1.27(a) and thus not surprising there is a bit of stall. I’m leaning on the internal form of (c) which would have this as a third and thus prone to extension. That means I favor continued grind to at least 4157 before worrying about much of a consolidation.

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