For only 3rd time this year and 8th time since mid-November, we had more new highs than new lows today on NYSE+NASDAQ. pic.twitter.com/pua8NYolDO— Willie Delwiche, CMT, CFA (@WillieDelwiche) March 29, 2022
Markets soared higher and the Nasdaq Comp is about to run into its 200-day average. The almost 17% rally is a great example of the market's ability to turn on a dime in the midst of bad news. It seems sentiment is now edging to the other extreme in the short term. pic.twitter.com/q6EBDRfvlE— Matt Caruso, CFA, CMT (@Trader_mcaruso) March 29, 2022
$SPX is headed higher into its next 20 TD cycle high on April 1. Today it closed above 4595. The next potential resistance may be the 78.6% retracement at 4668 though none of the Fibonacci retracements has worked as resistance so far. The next real resistance is only at 4718. pic.twitter.com/v2HWAPsuKB— CyclesFan (@CyclesFan) March 29, 2022
Margin of Error for AAPL: (1) It is getting dangerous close to invalidate the LD pattern that I used to count AAPL. (2) Still think it is the correct count, but the margin of error is very small--the viable way forward is a shallow retrace for a week, then a higher high at 180.
New Moon=a high: (1) for subs, the upcoming new moon actually points to a high--not a correction low as I expected--see Bamboo Scroll #8. (2) still, the best and safest strategy is to initiate a position near the phase, not in the middle. (3) Will ALL-IN short tmrw at 4630-40.
$QQQ 370 area achieved, 100 MA test reached. Bears do not have that much time to reverse this so I am being patient and letting the market pick its next direction. Once the next trend will be established will be fairly easier to play pic.twitter.com/LeH4vfkIK8— Mauro (@MauroBianchi24) March 29, 2022
Clear growth/defensive tilt today with REITs, Tech, & Cons Discr in lead; Energy was sole decliner while Financials saw most modest gain … in reversal from longer-term trend, Russell 2000 Growth beat peers but remains down 10% YTD and is still lagging MTD pic.twitter.com/Q0Q3Imber4— Liz Ann Sonders (@LizAnnSonders) March 29, 2022