NAS,
Nominally, if Feb. 24th was a 5 week low, then the coming 2.5 week low is due about Friday this week +/-1 day. You'd think that with the SPX heading into a 40 week cycle low we'd see that gap fill this week, even if it is the nominal low for the 40 week.
But the next 2.5 week cycle low due by the end of March could be the actual 40 week low (will be nest of lows for 2.5, 5, 10 20, and 40 week cycles). We may trade sideways through March with a shallow correction or not. Nothing so far seems to take this market down very far. I do want to be fully long after the coming 40 week cycle low.
I expect the FED to have an impact with its meeting on the 15th. If a low forms prior to that meeting, it might be the best long entry for March.
Have to take it day be day here.
cheers,
john
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