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Stage Analysis

Major US Indexes Stage 4 Breakdown Attempt Rejected With a Potential Wyckoff Spring Forming - Day 1

Spring / Undercut and Rally moves were the theme of the day as the US stocks markets opened strongly lower with a major weekly Stage 4 breakdown attempt at the open, which was rejected as the day progressed with strong demand pushing the major indexes (i.e. the S&P 500 and Nasdaq) back into their Stage 3 ranges. So it marks a potential Day 1 of Wyckoff Spring attempt in Phase C of the short term base structure that has been forming since the January 24th Selling Climax (SC) began to define the range.
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Major Indexes Testing the Stage 4 Breakdown Level

The major indexes all tested their lower ends of their bases today, the Nasdaq composite closing below the Jan 24th Selling Climax (SC) level, and so there is a possibility that there could be a Spring attempt. But current geopolitical events continue to add volatility into the mix, and so risk of a broad Stage 4 decline continues to increase. Although you could argue from the market breadth data alone that we are already in Stage 4...
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