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

Key Takeaways

  • DJIA, SPX and QQQ all closed at the lowest daily closes since last Spring, but failed to take out intra-day lows from January 2022 last month which looks important
  • DeMark indicators are closer to signaling exhaustion and coincide with cycles
  • Yesterday’s note on 5 reasons to expect an upcoming low remains intact; it looks better to look at buying into weakness vs expecting stock indices to decline throughout March

Overall, Wednesday was more negative than positive.  Following several weeks of meandering around in choppy fashion, stock indices all broke down sharply to close under January lows on a closing basis while SPX and DJIA lie right at January intra-day lows.  QQQ, as shown below, remains relatively weaker, but closing in on targets at 326, with possible support under that level found at 314.  Any rebound back above 342 would be important and positive.  However, DeMark’s TD Sequential and Combo indicators remain 4-5 trading days early to reach completion on QQQ daily charts, while these are closer to reaching bottoms on weekly charts, with prices due to potentially complete TD Buy Setups right at TDST support next week. 

The video in this report is only accessible to members
Bottom line, what does Wednesday’s decline...

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