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The video in this report is only accessible to members

Key Takeaways

  • Disappointing downdraft leaves US indices vulnerable to another 3-5 days of weakness before turning up in March
  • WTI Crude showed first real evidence of minor break of uptrend, which might result in minor weakness for Energy which should prove to be excellent buying opportunity
  • DeMark exhaustion might line up with short-term SPX cycles to bottom by 2/27/22

The relentless volatility continues, with Thursday casting no doubt that trends likely require a bit more weakness before real stabilization can ensue.  Thursday’s downturn does not seem complete as of the close, so technically I’m expecting a brief undercut of February lows which could result in SPX violating 4300 and testing January’s lows before any stabilization.  However, time-wise, this decline looks to be nearing completion and a more serious trading low is likely to be in place by 2/25, the end of next week.  For dip buyers, we’re nearing a time when it’s right to average into longs for a March rally.   Whether or not January lows are briefly undercut isn’t important technically to these time studies.   Thursday’s selling lacked the volume seen on most days, and is nearing a time when exhaustion...

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