Dow Update for Month-End Closing of February 2016

by Martin Armstrong
Armstrong Economics

We did not elect any bullish reversals. March remains our Directional Change target and the Dow could not close above 16934 for February. Looking ahead, we see the weeks of 03/14 and 03/23 (array posted on the private blog for the Investor level). We have also not elected any Weekly Bullish Reversals. The 17000 level remains as resistance. There is still no indication that the market is yet out of the risk of new lows under that of 2015.

When we look at the S&P 500, here we see that a February low was on target. This implies the next key turning point should be May. Looking at the weekly level, we see 03/14 and 03/18 as key target weeks with a Directional Change the first week of April.

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