we will see if this bearish trend continues this week...Further losses look likely to 4270/65...
The index collapsed exactly as predicted to the 4270/65 target.
Nasdaq MARCH we wrote: the sellers returned but we remain in a short term negative trend so I believe that risks are to the downside.
Down we go as predicted to retest the January low at 13730/700.
Emini Dow Jones MARCH volatile with no clear trend or pattern. We could be building a head & shoulders reversal pattern but we are a long way off completion.
Update daily at 07:00 GMT.
Emini S&P collapsed to my target of 4270/65 before incredibly important support at 4195/4185. A break below here could trigger another 15% correction to the downside.
Minor resistance at 4290/4300 then strong resistance at 4350/60. Shorts need stops above 4370. A break higher targets 4395/4400.
Nasdaq broke lower as expected through 14200/150 & 13900/850 to retest the January low at 13730/700. Holding below here could trigger another 700 point loss to 13000/12950. Along the way look for 13500/450.
If bulls can get the index to hold above 13700 in oversold conditions they can trigger a bounce to 13950/980, perhaps as far as 14100/150.
Emini Dow Jones broke 34000/33950 to target 33650/600, perhaps as far as support at 33200/33000. Watch for a low for the day.
Strong resistance at 33900/34000 could see a high for the day. Shorts need stops above 34150. A break higher initially targets 34350, perhaps as far as 34500.
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