TRADING DP

[TREND1]

3/23 Ultra-Short-Term Indicators: No climactic readings to observe, but I do note that the VIX is still penetrating the lower band intraday. The early hours of trading today could've served as a rally 'pop', but I'd be looking for a temporary bounce along support around $232.50 tomorrow or next week.


Short-Term Indicators: Any rally off support won't likely take hold until we see these indicators begin to twitch or decelerate. For now they remain bearish in their decline.




Conclusion: Strong support is available around $232.50 and I suspect we will see a bit of a bounce there, but ultimately given the very bearish indicators in the short and intermediate terms, I wouldn't be looking for a new rising trend yet