am told the more ferocious is still ahead
From: newsletter@technicalindicatorindex.com [mailto:newsletter@technicalindicatorindex.com]
Sent: Monday, March 09, 2020 9:30 AM
Subject: Sunday Futures Down Over 1,000 Points. McHugh's Comments March 8th
Dear Subscribers,
Futures are plunging Sunday evening, at 9:30 EST, down over 1,000 points for the Industrials. Unless something happens to change this before the open Monday, we could see the mini-crash from February turn into an all-out collapse and official stock market crash.
From a technical analysis perspective, It is critical the major stock indices remain above their February 28th lows, 24,681.01, 2,855.84, and 8,133.85 for the Industrials, S&P 500, and NASDAQ 100 respectively. If prices break below those levels, it means a powerful wave 3-down move is underway, which will likely be a crash, steeper than the decline through February 28th. Trillions of value has already been lost from the stock market the past two weeks. Trillions, with a "T," more could be wiped out as wave 3-down takes over. This is Grand Supercycle degree wave {IV}down. The Great Depression was a degree of trend lower, just Supercycle degree wave (IV) down. The Fed's attempt to pump liquidity, dropping short-term interest rates half a percent last week, is failing to stop the slide, and is not replacing the trillions being lost from this crash. |
