The viewing of the Tetrad total lunar eclipse or the “blood moon” comes around just a few times every 500 years, making these events a fairly rare occurrence. TD Buy Setups can also fit into that category. The daily S&P 500 (SPX) has not seen a TD Buy Setup since May of 2012, and it would be fitting to see it finally finish off that elusive “9” count TD Buy Setup, possibly tomorrow…maybe with a little geomagnetic help too.
S&P 500 (SPX) SHORT TERM OUTLOOK: BEARISH
Back to neutral if SPX cannot close below 1822.11 mid-day or 1815.90 end-of-day.
While the 4 hour SPX counts are technically on a TD Buy Setup, the markets are exhibiting selling exhaustion just above the 1812.74 symmetrical 100% Fibonacci extension starting from the 1897.28 high. It would not be too problematic if the 4 hour SPX loses the TD Buy Setup, but it would be beneficial if it can stay aligned with the daily chart, providing more accuracy in determining a tradeable bounce.
S&P 500 (SPX) SHORT/INTERMEDIATE TERM OUTLOOK: BEARISH
Neutral if SPX closes above 1851.96 (updated April 14th).
S&P 500 (SPX) INTERMEDIATE/LONG TERM OUTLOOK: BEARISH
Flip to neutral if SPX closes above 1866.52 (updated April 14th).
S&P 500 (SPX) LONG TERM OUTLOOK: BULLISH
Switch to neutral if all of the following occurs: SPX closes below 1848.36, Dow closes below 16457.66, Nasdaq closes 3771.48, and Russell 2000 closes below 1163.64 (updated April 2nd).