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March we wrote: making a sample of decrease excessive and decrease lows—so we are going to see if this bearish development continues this week…Additional losses look prone to 4270/65. The index collapsed precisely as predicted to the 4270/65 goal.
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March we wrote: the sellers returned however we stay in a brief time period detrimental development so I imagine that dangers are to the draw back. Down we go as predicted to retest the January low at 13730/700.
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March risky with no clear development or sample. We may very well be constructing a head & shoulders reversal sample however we’re a good distance off completion.
Right this moment’s Evaluation
E-mini S&P collapsed to my goal of 4270/65 earlier than extremely essential assist at 4195/4185. A break under right here might set off one other 15% correction to the draw back. Minor resistance at 4290/4300, then sturdy resistance at 4350/60. Shorts want stops above 4370. A break increased targets 4395/4400.
NASDAQ broke decrease as anticipated by means of 14200/150 and 13900/850 to retest the January low at 13730/700. Holding under right here might set off one other 700 level loss to 13000/12950. Alongside the best way search for 13500/450. If bulls can get the index to carry above 13700 in oversold circumstances they will set off a bounce to 13950/980, maybe so far as 14100/150.
E-mini Dow Jones broke 34000/33950 to focus on 33650/600, maybe so far as assist at 33200/33000. Look ahead to a low for the day. Sturdy resistance at 33900/34000 might see a excessive for the day. Shorts want stops above 34150. A break increased initially targets 34350, maybe so far as 34500.
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