FOR MONDAY: Anxiety cycles are increasing into the Easter Holiday and may continue thereafter for a few weeks until Tax Day so it’s hard to find many cycles that would allow a stronger recovery over the next month. Stock market may be down so hard on Sunday/Monday that it has to do short-covering into Tuesday or part of Wednesday just to rebalance. Have to think that much lower numbers can come if the market is vulnerable into April 13.

S & P ANALYSIS FOR MONDAY: (3/26) We took partial profits at 2604 but the close below 2600 is ugly and projects 2565. Lower support at 2500 or 2455 if we have a Black Monday moment. Thinking panic selling on Monday will be followed by a strong bounce into Wednesday. At best, that would be 2622 or 2646 if the 2565 region holds. If not, it may mean anything.

More troubling is that not seeing anything positive in cycles until after April 13 and tax day so there’s plenty of time for major erosion. Easily can project 2401.

OVERALL: Lower weekly chart support is down to 2284 if 2400 gives out. I suspect we just have to stay short until tax day or some major intervention. We have to see how low the market falls into mid-April and then we can decide if the seasonal highs into May and early June have a chance to make new highs.

CYCLE SYNTHESIS: Sharply lower Sunday/Monday; bouncing Tuesday and part of Wednesday; lower into Thursday; lower into April 2-3.

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