3/24 Cycle Highs

3/24 predicted Highs still stands and we're currently down -10 today

The 10.45 CIT was a 10.50 LOD sofar.

The remaining 2 CITs at 2.15 and 2.45 pm EST should be highs.

We should close on our Lows, we are on our way to our expected lows in a couple of days...

Warning signs

There were warning signs for the current breakdown. Staying consistently below the 200 DMA and staying 8 weeks below the Trapdoor to Hell were some of them. Breaching the Long term SPX Monthly uptrend channel (Click on chart to enlarge) was another bearish indicator.
As mentioned before, the Series of Cycles predicted at the beginning of the year, a January Low, February High and April 08 Low (and more). The detailed series was pretty good too: 1/23L, 2/13H, 2/26H, 3/5H, 3/11L, 3/13L, 3/14H... Lower Lows are out there. The decline is not over quite yet.

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The Trapdoor to Hell Part 2

Ever since I first mentioned the Trapdoor to Hell triple Resistance @1370-90 SPX area (click on chart to enlarge) more than 6 weeks ago, it has proved to be Major Resistance for any rallies, which suggests we remain in a weak and dangerous market.
The market needs to prove this is anything different than a bear rally by first of all taking out the 1395 SPX Resistance, as long as we stay under this, the market remains weak and bearish.

Our Market leader, the weekly NDH has broken below its long term weekly channel. If we have weekly close below this channel and below the 1/23/08 Lows @ 1698 NDH/QQQQ 41.61, it would be an ominous sign. We already had a Lower Low intraday today.

In my annual forecast for 2008, I mentioned to the T&C Group and clients, we would have a January 08 Low, a February High and an April 08 Major Low. If the decline is minimal, we should reach the uptrend channel on the monthly SPX chart and retest June 06 Lows at 1220 SPX.

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