SPX finishing the month strong, following the familiar patter and trading above the 1 x 1 angle:
Market Breadth Data******************************
Thursday, March 28, 2024
Thursday, March 21, 2024
SPX Pattern and the FED
The current upswing started with the FED pivot in November, and is likely to continue until rate cuts become reality:
At the current rate, the daily pattern will become overbought in two days:
Thursday, March 14, 2024
SPX Rinse and Repeat
No surprises, as the SPX continues repeating the same pattern over and over again:
The pull-backs keep market breadth from getting overbought while the SPX zig-zags higher:
Tuesday, March 12, 2024
SPX Pattern and Trend Continuation
No changes in SPX pattern and trend:
bouncing between the weekly Pivot line and the upside target, keeping the trend up.
Saturday, March 09, 2024
SPX Weekly Targets
The SPX remained true to the pattern of bouncing between the weekly Pivot line and the upside target:
and the trend remains up in all three (D,W,M) time frames:
Weekly targets: 5000 - 5200, Pivot line at 5100.
At the current rate, daily market breadth will need 5 days to get oversold, and 2 days to get overbought.
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