S&P 500 & Nasdaq Analysis and Trends

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The Dow Creating Confusion on Schedule
By: Marty Armstrong | March 20, 2024

We are in the process of forming a high here in March. As I have said, watch the Daily Bearish Reversals. The market has continued to hold them as it is posturing for these turning points. This is a good thing, for we are not creating a blow-off isolated high. There are so many people who are bearish, and they keep shorting the market and then have to buy back their shorts, which is creating this sideways consolidation pattern.

The Monthly Timing Array still shows an ideal high here in March, then perhaps a 2-month correction into May.
When we look at the Weekly, there was a Directional Change for this week. But the ideal turning point is the first week of April, followed by a Panic Cycle the week of April 8th and what would be a correction for three weeks into the end of the month.

We may see that the intraday high could come during the first week of April, and then the market will start to decline. That would leave March as the high on a closing basis. The primary overhead resistance stands at 39329.05, followed by 40052.32. We can see that unfolding in this short covering...

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