Short Term Trading Member Forum

[arjunah]

SPX: despite the cascade pattern above prices following the Jan. 23 low, the SPX failed to meet upside projections. This undershoot suggests the underlying short term trend is still down. The two massive interest cuts on Jan. 23 and Jan. 30 were fundamental events that would have been expected to goose any upside action, so the undershoots despite the interest rate cuts is further evidence of a strong down trend. I'm standing by my phasing that we will see lower lows in the next five weeks.