When it works exactly as it should….

I am still flat from last Monday.  But, I am sure the system will be looking to get into a new trade soon.  I had mentioned that I was looking for the S&P 500 to come back to the 2700-2720 range and it did that today.

The illustration above showing my last trade is a perfect example of how good this system is.  After over a decade of research and study, recognising the end of a short term trend is really now a wonderful addition to it’s already great ability to recognise swing lows.

Its too early to say if the market has bottomed out yet.  I suspect we will not see a new low tomorrow and it will try and stabilize or even go back up, but it may not be over yet.

The new Fed Chairman, Jerome Powell, will hold his first press conference after the FOMC meeting on Wednesday, March 21 at 2pm.  He will want to make his mark I am sure and the market doesn’t like changes or surprises, so it should be interesting.

I will be hoping for more weakness to get back in even lower.

Good trading,

John