If the same phenomenon is happening with the SPX 2020 to 2021 move, 02/16/21 could be a very important peak.
Daily Stochastics, , and have rolled over and could continue lower.
If there's more downside action in the first week of March, it could confirm a very important peak.
February saw the index attempt to breakout above Monthly Triangle Resistance Line
March Dow Monthly Parameters:
31400 Ascending Triangle Resistance, 29250 Ascending Triangle Support.
The Dow will confirm major trend continuance or failure in March.
Watch these numbers carefully.
Thank you for an excellent, and gifted analysis.
The 32 K Rejection is key, as you point out.
Usually, but not always, a rejection like that,
is followed by an equally important test in the opposite direction,
in this case Support.
Thanks for the compliment. I will watch your numbers.
Season patterns for US stock market are bullish until late April, so its within the range of possibilities.
What could also happen - a drop of about 10% then a rally to just below February 2021 highs.
Thanks for the compliment.