Stock market whipsaws seem never ending in these very common small trading rage markets of uncertainty. Key “short term support” at 2030 remains our pivot to Sell, but for now the inside trading range momentum is shifting higher.
This brief update shares a couple of the MarketHarmonics.com charts with our view they have shifted to the Buy side on April 8th as long as these crossover trends are in place. These charts don’t affect the longer term perspectives we have shared, but provide some bread crumbs to a more clear short term direction for managing risk.
The 70 point SP 500 Index trading range this year could be overly hyped thus leading to some false breakouts in the 2nd quarter, but for now the “very short term” pattern is shifting higher until June SP 2030 is tested. This is not a zone to take major action, so be patient if you are not a short term trader.
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