Many of you know how I feel about the markets and the intervention of the FED and government to slow the fall of the markets. It would be great if they had their hands off and let us have a huge sell off at higher prices and I would almost have guaranteed that we would not have seen these prices here. Well since we did have intervention all we get are pops which are then sold into prolonging the inevitable.
I have been talking to many traders who have years experience or me and most are saying the same thing: March will mark some huge sell off where we can work higher in the intermediate term.
As of today I have a possible low towards the end of next week from my analysis but one trader who I admire very much told me today that his analysis is telling him a significant low will be in mid March. Only thing I can deduce from our talks today is that sometime in March we will get a sell off which will get us below those November 2008 lows solidly.
Some first numbers I have are 716-718 area on the S&P then 680. I hope we are both wrong but it was so striking that we use totally different methods and came to the same conclusion.
For us traders it doesn't matter where the market goes as long as we are on for the ride. I am keeping my shorts here no matter what and if we rally I will surely add.
MARKETJEDI
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