On March 22, 2024 it was noted that Engrbytrade™ daily Dow trade pattern structure calculations indicated a move to dollars was in progress. This is also true for the S&P500. On March 14, 2024 an initial review of S&P500 trade patterns indicated algorithms were in the process of developing a structure that is similar to what was constructed between March 2019 and February 2020.
Additional research identified key signal points on the following dates:
- December 15, 2023, January 30, 2024, February 8, 2024 and March 15, 2024. Two of these points appeared during options expiration with a select group of stocks trading extremely large blocks.
- August 13, 2021, August 24, 2021, November 4, 2021, and November 17, 2021. One day after the last signal, market volatility started to increase and continued to cycle through 2022.
- December 18, 19, 20, 2019, December 23, 2019, January 17, 2020, and February 12, 2020. Seven days after the last signal, markets started a rapid decline.
Based on this history, there is a high probability that another decline is imminent.
Stock charts courtesy of StockCharts.com.
