The SPX Has to Clear 2731… or Else

This morning’s Daily Market Report showed a Square of 9 Wheel with the key pivots using the Gann Zero Point for the year based on the beginning of the natural year… the Spring Equinox.

Yesterday’s high ties to resistance, and the two low closes for the year at 2581 also tie to this synchronicity.

 Unless the SPX can clear 2731, the intermediate and primary trends remain down.

A break of 2581 now suggests a wash out. This should be signaled by a push below 2627. And A move below 2600 will break a 3 point trendline, triggering a Rule of 4 sell signal.

These signals typically elicit waterfall declines.

Tere is a strong likelihood this occurs in May.

Monday morning’s report will flesh out the technicals and cycles as to why I think so and the reasons why this is probably a bear market.

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