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
Thanks Jay. Continue to enjoy your analysis.
ReplyDeleteTrinity