Sometimes its neccessary to stop and take a break in order to gather data and put thoughts in place.
Few things come to light
OBV on a 3& 6 month chart for the dow& spx is WAY off - thus indicating internal weakness.
Bradley TURN date of March26th seems right on target.
8day cycle hits again on April1st and 2nd
On April 2nd Pluto goes retro and squares Mercury- according to those who know- this is a bad combo and should show its effects on traders with selling pressure on stock prices.
The next bradley date is Arpil8th and is shown as a low, but My guess is it will be a high
IF April 2nd makes a lower low than spx 1262, it sets the stage for a complete break down on April9th & 10th, leading to a low on the next bradley date of April 27th, a Sunday.
BUT since the 8day cycles on the 24&25th, I would venture to guess the 24th might be an important date.
Getting back to present
spx 1341-1344 has been shown by some as indicating support, and right now @ 10am, its at 1342
It did open at 1341, and is not bouncing UP, thus we could think possibly lower numbers today.
March 28th looks like a high energy day, and its hard to imagine anything other than a strong upday, but thre is some scientific evidence otherwise.
Either way, next week reveals the true direction of the trend.
Best Wishes
Jay
1 comment:
Thanks Jay. Continue to enjoy your analysis.
Trinity
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