ES Morning Update March 23rd 2020

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The futures were down again over the weekend but got a spark this morning and seem to be in short squeeze mode. I don't know how long it will last but at least it's a small relief for the trapped bulls. We've all be looking for some kind of bounce, like a wave 4 up possibly, and if this holds more then one day then we likely have it. But the end of this isn't over with as there's still not enough capitulation from the bulls.

I know that sounds crazy but this whole time the bulls just kept buying the dips. They haven't given up and turned into bears, and that's needed for a real low to be put in I think. This bounce was expected... the when part was unknown. But the main stream media fake news helped as they just recently turned super bearish calling for the end of world, so you know to do the opposite of what they say as they are paid to lie to you all the time.

This bounce could last all week but another move down is still very likely. The market should bottom around April 10th I believe. Why that date you ask? Because that's when this whole emergency lock down over the virus crap should be over with. I'll include another video here for you to watch. Downside targets are still the same on the Nasdaq, but unsure on the SPX/DOW. I listed them on last Friday's post (http://reddragonleo.com/2020/03/20/es-morning-update-march-20th-2020/).

Of course those downside targets can get canceled but for now lets take it one day at a time. The bulls should run with the ball most all of this week, as the market is very oversold. So the low over the weekend of 2174 should be it for awhile on the down side. This rally starting is way overdue, so just enjoy it while it lasts and we'll come back to the bear side whenever this is finished. Stay safe and don't panic, God is in full control.

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