March 3rd – Where Are All The Bulls?
Almost all of the Markets have become choppy over the past few weeks, so what happened to all of the Bulls? We have found a few Bulls that seem to be moving forward, and I will discuss those in the report. The others may need to be coaxed out of the fields of consolidation, before they can enjoy a nice solid run again. Let's take a look at what happened last week?...
SPX WEEKLY - Here we see that the bounce of the past 2 weeks has curled up the stochastics, so maybe the selling is done, but I have been expecting a test of the lows. Compare last weeks drop to what we saw out of the lows in 2015, the bounce also looks very similar, so ...
SPX - If we are due for a double bottom low, next week could be another down week, as shown here where I drew in an extra candle. This would match the 2015 double bottom lows. Read the chart.
Lets take a look at the flip side.
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Friday March 2
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March 1 – Choppiness
The choppiness continues, let's take a look at what we have.
.This is a pre-market snapshot, it contains quite a bit of red so far...
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SPX - The SPX broke below the 50sma & Volume increased, so this needs to be watched carefully. Yesterday I reminded readers of my weekend reports 'lessons' section at the end, it is worth keeping in mind or re-reading. Day 12 peak so far.
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