The "M" ( ) resulted in a to a falling 233 interval trend-line.
Because the S&P-500 failed at the , it is my opinion that the February lows will not hold.....
This failure (at 2677) strongly predicts lower prices.
The next area on the downside may be the mid-point of a weekly trading channel at 2400.
One last negative, the-S&P-500 failed to stay above a falling cloud on its rebound. Very negative indeed.
This strongly suggest a market drop .
Also, I follow-VXZ. This is a mid term future of the-VIX for the S&P-500.
This is still rising. This works in the inverse of the-S&P-500.
So, as I wrote March 6th , I thought then that the-S&P-500 would retest its February lows.
I still believe this to be so. I also think it will fail at 2525 and drop to 2400.
I feel that any up rallies will be counter-trend, and should be faded (sold into).
May all of your trades go well. Don.