March settles moderately bearish

With weakness into the Tuesday close, March settled with a bearish MACD cross for the sp'500 (and most other US indexes). Near term momentum now slightly favours the equity bears. First downside target is the 200dma in the sp'2010s, and then weekly support in the mid 1900s.

sp'monthly9

Summary

Little to add.

It has been a mixed opening quarter to 2015.

January was bearish.. and settled at MARCON 6, only to see February with relative hyper-gains.. hitting new historic highs on most indexes..back  to MARCON 7.

March has flipped lower.. and we have a moderately bearish MACD cross on most indexes... back to MARCON 6.

All things considered.. the broader trend remains UP.. but there remains a viable intermediate down wave.

Best 'doomer bear' case for the summer is Dow 15k.. along with sp'1700s. For now though, those remain mere 'wistful hopes', as there are a truckload of support levels all the way into the mid sp'1900s.

.. and another bearish cross

With the failure to hold the retrace low of sp'2085... the monthly cycles have yet again seen a bearish MACD cross. Broader price action still doesn't particularly support the equity bears.. unless sustained trading under the giant sp'2k threshold.

sp'monthly9

Summary

Little to add.

Yet again.. another little down wave.. from sp'2114 to 2061.. and the monthly cycle has turned moderately bearish.

As ever.. how we close the month is far more important.

Back to bullish... again

With the market battling into the sp'2100s, the bigger monthly MACD cycle has again flipped bullish... offering a super bullish MARCON 7. With ECB QE, along with recent historic breakouts in the UK and China markets, there is little reason to expect any hope of a moderate correction until at least May/June.

sp'monthly9

Summary

Little to add.

March looks set to close at MARCON 7...  along with powerful net monthly gains for most US and world equity markets.