Technical Strategy Video:

The video in this report is only accessible to members
The video in this report is only accessible to members

Key Takeaways

  • US Equity trading lows look near;  Yet, Friday’s churning hasn’t provided confirmation yet, which likely happens next week, either at lower or higher levels.
  • Sector-wise, the rising US Dollar looks to have hurt Industrials this past week, and Discretionary and Materials also underperformed, while Tech held up relatively better
  • ARK Innovation ETF looks like a good risk/reward to bottom out in the short run, after a 50% decline in nearly the last three months.

SPX managed to finish a very negative month on a positive note, as the last two trading sessions successfully cut its negative performance to just -6.0%.  Yet, as to whether the market has officially bottomed for the Winter, two areas look important on the upside:  1) 4519-20 would allow these two measured moves off the bottom to be Equal.  2) 4582 lies at 1/10/22 intra-day lows.  Exceeding this would drive prices back to new all-time high territory.   Until then, I suspect this will prove to be a “Two-steps forward, One-step Back” type bounce.

The video in this report is only accessible to members
Overall, it looks right to have a positive bias on US Equities into March for an above-average snapback.  Yet the one negative concern ...

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