Price fails to hold up above the Buy signal and a Cover Signal is confirmed.
Price will need to prove itself again, before we confirm a new Buy Signal.
The T volume oscillator makes a significant move down below -50, indicating that we are now looking for a low to be confirmed, before the next wave of buying occurs.
There is strong rising support ascending from the February 8 move upwards, and otherwise there is the long term trend line from the previous peaks which was previous resistance and now may become a support line.
It is now clear that the March 1 peak at 2400 was indeed the end of a major T structure and that the 'Cluster T structures' also completed at the same time. We may see some small effects from those projections, but we are now really looking to see a new structure emerge.
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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.