|SP 500 Review|
S&P500's overall trend, revealed by trends of price, leverage, and time, defined and are discussed in The Matrix for subscribers.
Daily Trend (chart 1)
Weekly Trend (chart 2)
Monthly Trend (chart 3)
Downside alignment in the daily trend against secondary and primary upside alignment defines consolidation/cause building. While fear rules, it's never smart to short secondary and primary upside alignment. I will update this charts and conclusion (if necessary) this weekend. I will add, right now, that it's likely market internals have defined varying degrees of capitulation on 3/23. TICK, a measure of the minimum upward or downward movement in the price of a security, collapsed on Friday (chart 4). This strongly hints at a near-term bottom. Other readings such as VIX divergence and put to call ratio, figures updated well after the close, could confirm panic. I will update these comments over the weekend.
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