Today the stock market is running a test. Will the S&P 500 move higher or show signs that the counter rally is already over. There are quite a few trend lines I have drawn, but the one I am watching is the ~45 degree green line in bottom right. Posted on March 11th time to go long. The bottom was on March 13th and that uptrend is being challenged.
From my previous post I do expect the counter rally to end within next few business days. If you are unsure of this disposition, a break BELOW this green line on an EOD close should give you pause about remaining a hold.
I'll be looking to re-short today in prep for mid-April low. That can be a new low for the year or not, and another base for a counter rally. THAT counter rally maybe more forceful.
For "buy and holds" see this post.
Looks like lower is the choice, we will know in 3 hours.
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