12/10/2018 – A positive day with the Dow Jones up 34 points (+0.14%) and the Nasdaq up 51 points (+0.74%)

The stock market finds itself at an incredibly important juncture. Things are about to accelerate in an unexpected way. If you would like to find out what happens next, based on our timing and mathematical work, in both price and time, please Click Here. 

Chartists are watching, nervously I might add, some important chart patterns and support levels.

Stock market on ‘cliff’s edge’ as S&P 500 tests this crucial support level: chart watcher

Stocks fought back from steep early losses Monday, after breaking below a crucial support area that could set equities up for a new round of lows if it doesn’t continue to hold, one chart watcher warned.

Stocks extended early weakness Monday, sending the S&P 500 SPX, +0.18%temporarily below closely watched psychological support at 2,600. But a more crucial support level was tentatively broken as the U.S. equity benchmark fell through 2,616 before equities rebounded sharply to end the day in positive territory.

“In my mind the theoretical cliff’s edge is the 2635 to 2616 area …,” wrote Rick Bensignor, president of Bensignor Investment Strategies, in a note ahead of Monday’s open. A close below that level would set the stage for more downside, he said.

In my opinion everyone is asking the wrong question.

The right question is, whether or not all major indices put in their respective long-term mathematical tops at prior highs. You see, because if they did, it assures all perceived technical support levels will eventually be broken. Most importantly, investors don’t have to wait for a confirmation until we get there.

If you would like to find out if the market did indeed put in those tops, in both price and time and based on our mathematical calculations, please Click Here.