- The 4200 level is still intact, but there is risk that it will be violated due to the unfortunate deterioration in our medium-term (MT) trend models.
- As of now, more than 50% of stocks are in a medium-term downtrend, making the majority of trends negative across all three timeframes.
- We are focused on the 4050 to 4200 zone, should 4200 give way. We really need to see that hold, or we feel we will be dealing with the consequences of the longer-term. . .