SPX: Dead Cat Bounce Ahead?

11 Mar 2019

Both SPX and NASDAQ closed the day/week below their MA200 support, now turned resistance.
Market looks a bit oversold after last week’s weakness. Could see a bounce from here.
Will consider that the trend is to the downside until we break and close again above MA200.

12 Mar 2019

Not

MA200 has been cleared. Market still going strong. Now heading towards glass ceiling at 2,820. A break of that puts us in closer view of the historical 2,940. Volatility is at support levels. Brace.