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3/14 US Market Update

A Lookback

Throughout the previous week the market wavered largely within the anticipated range on our charts, however, indicating that our previous scenario is likely to be overoptimistic.

SP500, 4hour

This Week

On Thursday last week we posted Ad-hoc Update where we proposed a more aggressive bearish scenario with tighter consolidation range (red on the chart below) than before (blue). Now, with the latest developments in the charts we are arguing that this compact triangle is likely to be the base case.

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