Aug 04

No Damage Yet in S&P 500 (SPX) Uptrend

Now that the SPX has thrust to a new high today at 1292, let's notice that since the first-hour high the new column of "O"s has developed on our pt and fig chart -- but just as has been the case all week, the "O" column has not (yet) inflicted any damage to the existing uptrend.

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Mike Paulenoff is author of www.MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!