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Global Equity Support Levels for Late March Low, Short Squeeze and Basing Cycle

Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

<p><a href="https://www.smartkarma.com/entities/s-p-500" target="_blank" rel="noopener" data-smartkarma-citation="entities:22886:1">S&amp;P 500 (SPX INDEX)</a> has broken important long term trendline support and will act as ressitance in the touted April rally. We have been shorting bounces from SPX 3,380 and now looking for some downside exhaustion to place some long bets (NDX, SOX, EEM and Asia favored) for a short squeeze rip higher in April. Worth noting that virus battered sectors (airlines and cruise lines) did NOT make new lows Friday with some light at the end of the tunnel. SOX is also making a stand to perform over the NDX which faces late cycle big tech downside capitulation selling that would help identify a key low near SPX macro support at 2,150/30. A USD cycle peak is also a key component in chiseling out key lows in Asia and EEM.</p><p>Choppy descending ranges and RSI bull divergence into a cycle low timeline in late March are conviction inputs as is the overdone USD rise.</p>

S&amp;P 500 (SPX INDEX) has broken important long term trendline support and will act as ressitance in the touted April rally. We have been shorting bounces from SPX 3,380 and now looking for some downside exhaustion to place some long bets (NDX, SOX, EEM and Asia favored) for a short squeeze rip higher in April. Worth noting that virus battered sectors (airlines and cruise lines) did NOT make new lows Friday with some light at the end of the tunnel. SOX is also making a stand to perform over the NDX which faces late cycle big tech downside capitulation selling that would help identify a key low near SPX macro support at 2,150/30. A USD cycle peak is also a key component in chiseling out key lows in Asia and EEM.Choppy descending ranges and RSI bull divergence into a cycle low timeline in late March are conviction inputs as is the overdone USD rise.

S&P 500 INDEX

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