Trading Environment:
-Long Term Trending Fed- and Foreign net-Liquidity Inflows 'weakening' in high expansion territory
-New Lows: 15 remain below danger 26-zone
Confirming short term weakness:
-C-RSI 9 below C-RSI 30 _ C-RSI 4 below C-RSI 9
-Leadership stock ratio reads +0.08 dangerously low positive bullish advantage 
market today needs to build on yesterdays improving tone with a VIX below 20 into the Close
Today's Session:
...the SPX 500 working its way up from the February 24 Low *1294 into the February 23 *1322 resistance_!325 congestion, in what appears to be the first leg of a corrective bounce
...a Close today above *1325 congestion will increase probabilities for the index to go to the races towards upper channel resistance current *1366 in the dly. 6-mth. trading setup, potential to reach out to hit a *1420 measured objective without looking back
...however, risk are high, for the index to fail the February 23 *1322 resistance_!325 congestion. The subsequent down draft would target lower channel support current *1286 in the dly. 6-mth. trading setup, potential to spike down to January 30 High *1275
...a successful defense of *1286/*1275 should provide the foundation for another rally into June with upper channel resistance current *1366 in the dly. 6-mth. trading setup; potential to reach out to hit a *1420 measured objective
Kind Regards
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