S&P 500 Index – March 15, 2023

Perspective … we made a higher low today. Let’ that sink in …

Now, my stance is to remain bearish and I do believe we are in the very early stages of a smashing wave 3 and, add fuel to the fire, it’s a “3rd of a 3rd” wave down. Wonderful …

Near term, the market DID NOT go up to our target up around 3956 but it did smack right into the trendline giving us the polarity principle.

Two scenarios:

  • Bounce not complete and we gap up and above or move strongly into and thru the gap shown and finish the a-b-c sequence
  • We did a “minor” wave 1 down and finished a “minor” wave 2 and down we go … wouldn’t be surprised to see if it closes the gap tomorrow on the open and then down …

Author: BART

BART is a CMT and an expert a "advanced" pattern recognition used w/in the intermarket analysis discipline. He's also an accomplished Business Development Executive providing solutions to a myriad of business markets.

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