PIVOTAL DAY for MARKET - defend SPX 2360 or decline resumes

Has all the STIMULUS news already priced in the market? The text was released and it is sure to be passed unless there is a late surprise.

Tomorrow, SPX 2360 must hold or else decline resumes. Then there is Friday and a weekend. 

BUT there is talk of a reallocation of assets from BONDS into stocks at month-end and end of Q1

However, there is the end of March in sight and start of earnings/warnings/guidance season

And, then come the most anticipated NFM report on Friday next week. 

I think the market will hold above SPX 2360 and then gradually move up to SPX 2600 and then the decline resumes. 

NEXT WEEK will be an amazing one and may be the most important since 2008/ 

Edited by dTraderB, 25 March 2020 - 08:51 PM.

https://northmantrad...5/monster-move/

Edited by dTraderB, 25 March 2020 - 08:51 PM.

NEXT WEEK will be an amazing week and may be the most important since 2008/ 

 

I agree with the caveat that the pivot zone could extend to April 6-7.

"As you can see in the chart above, wide daily price swings, such as those we've experienced over the past month, are typical of the beginning phase of the 2008 bear market as emotional traders react to every headline amid the intense uncertainty. Currently, we've seen 11% rallies on two occasions in the S&P 500, with two 10.5% declines over the last 10 trading days alone.

Going back in time, as the uncertainty surrounding the 2008 crisis began to stabilize, we see the daily price swings tighten up considerably, which allows the markets to build a more sound base from which to post a sharp downtrend reversal. As you can see, I've also highlighted the telltale signs of the actual bear market reversal in March 2009."

https://stockcharts....-rever-222.html

https://www.philstoc...the-virus-tops/

https://stockcharts....versold-41.html

https://realinvestme...r-market-rally/

Was today a 90% upside day?

They will defend it (whisper - as it had been planned the other day ...........)

Edited by redfoliage2, 25 March 2020 - 10:44 PM.

The moon comes closest to the Earth for the entire year when it reaches perigee on April 7, 2020

Perhaps a Super Moon turn back to the upside?