Although I do not place a great deal of emphasis on a single trading session, especially on a low volume holiday Black Friday, the SP500 Index trend this week was as forecast.
As it is Friday and I am short of time, I am updating today via two technical analysis charts that remain negative. My overall analysis conclusion now suggest that a renewed thrust down in the index will likely commence early next week in a Wave C corrective pattern.
If I get more time over the weekend I may write something in further detail, but suffice is to say that my view is down, with immediate risk to at least the 90 day moving average on a daily chart.
See the two exhibits below with mark-up educational comments. Enjoy your weekend and follow the trend.
Sincerely,
James Kelly Sr.,
Editor in Chief, BBTL Blog
www.KRTT.com
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