Tuesdays Tremors

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The Markets are basically all over the place since the Fed Rate Hike and Tuesdays drop in some sectors seemed to come out of nowhere.  At this point in time, I want to review expectations past and expectations now.

 

 SPX - On March 7th,  We were looking at a drop into a dcl.  I expected it to possibly tag the 50sma and slightly break the trend line, as shown in this chart.

 

SPX -  1 week later we had a bounce and it looked like the dcl came in and we got our swing low. I still hold to this idea, but when you get a daily cycle as right translated as the last one was, you look for a POP to new highs and then it can roll over.  See what I wrote on this chart.

So after a bounce to new highs, we would look for the markets to roll over into an ICL .

SPX MARCH 21- We did not get our push to new highs before the markets just took a sudden plunge.  This looks like a drop into an Intermediate cycle low  (ICL) has started, the multi-month trend line has been broken. The low that I labelled as a dcl has been broken. It would be best to watch how this drops and see if the next swing low sets up a BUYING opportunity.

Lets look at a few other things in this area...

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Tuesday March 21

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SPX from the weekend report, I think we'll get another run higher soon.

SPX - I'm Still expecting that run higher, and I would have a stop under the dcl at 2350

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March 17th Weekend Report- Thinking Out Loud

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Let's go over the markets and see what may or may not have changed with the Fed Rate Hike this week.  🙂

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This was my MARCH 10th SPX chart- I expected the general markets to drop back a bit more on the pull back, and then to put in another run higher. It would then be in the timing to roll over into an ICL as shown.

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