So Much for the Short Term Rally

 

3/10/2026

Yesterday I suggested a short term rally, boy was that short. From the intra-day high to the close,  514 points to the down side with the DOW closing negative.

Looks like today was a fourth wave up with a fifth down to follow. 

SPX falls out of its range and fails to re enter on today's rally.  The character of the market is changing  and that change is to the downside. 

 

Here is a  classic illustration  that a parabolic rise if followed by a similar decline. trump has degraded Iran's military capabilities but not their political ones, same as in Venezuela.  Air power has its limits. 

 Silver is being stubborn but should soon complete its counter trend rally and reverse.

More tomorrow.