@Bumbum @fred9999
We should see a new high next week which could be as soon Monday with a decline thereafter into the week of the 18th(TP) which should be a panic cycle to the downside. a lot of these moves will be determined by the reversal system, so as long as the Dow does not elect its next bullish reversal at 24765, the market should decline into the the week of the 18th. The 2nd quarter is a turning point so we either have to make new lows or close below the 1st quarterly close. The intraday low may occur in May, with June being the lowest monthly closing.
So as long Dow close below 24765 on a weekly basis on May.11.2020, then the above applies? That's a steep decline if the intraday low occurs in May.
The question should be, when do you short this market? Martin Armstrong/Socrates will not give that answer. How can anyone trade using his could, should, maybe statements.
The longer the consolidation , the more violent will be the next move or drop. Spx resistance level at 2760 . Below that and the next drop is 2500 . Stay above 2900 is bullish very short term