Difficult & Demanding day
258bars at 3;30pm
ITS VERY EASY TO FORGET that SEVERAL Times I wrote that NOTHING would happen until FEB 17th, but that actual was Feb 18th due to the full moon,
And Ive also mentioned a pivot low on the 24th for this thsday.
The MOST important date this year will be MARCH 18th, the next full moon is the 19th. The Psych for that moon indicates feelings of vulnerability & worry. Its also a Bradley date
Now that we are having the biggest sell off since last August - can we say that there has been a real CHANGE ? of not
Using 40 spx pts as a rule of thumb which weve discussed many times, my calls for 1300 spx was partly based on the rule. 1343 -40 - 1303
BUT If we break 1300 either today or tomrrow, then we might see another 40 pts to 1263 by Late Thsday or Friday am.
I love the way CNBC calls this sell off a reaction to Libya and the Mideast- I guess they have to tell the people what they want to hear- BUT the mkt could have sold off anytime in the last 3 weeks, BUT IT DIDN'T - its selling off now as previously projected, and as shown by the published energy guide.