Summary
The second consecutive net monthly decline, settling powerfully lower by -5.1%. The first monthly settlement under the key 10MA since last April. Monthly momentum weakened for a fourth month, settling negative for the first time since last May.
With negative monthly momentum, we have a monthly SELL signal.
Natural target is the lower bollinger, currently 5291, if due to adjust upward to the 5300s as of April 1st. There appears 'comfortable' downside to around 5700, which would arguably equate to Dow 40K.
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