Originally posted on 03/04/2021:

I can't remember a day where the FED came out to talk, and the market was on a wild roller coaster ride before hand. Tomorrow, I still expect a repair operation and 384 is still an important number. Today the SPY ran up and tagged 384 before falling down the elevator shaft. 384 represents a break down candle high as I pointed out last night. Several charts are poised to bounce tomorrow, the first order of business is to close above the 50 DMA, then above 384 would be on the table. If this is the case, then there will be another lower low on the table as the highest point and thus a bounce up might tag the descending line either Friday, Monday, or Tuesday. The descending blue line is also on my chart from yesterday so check it out. That would be all the way up in the 389.50 neighborhood if they get there. I doubt they get there tomorrow but that is the place where above it makes my scenario change and a re-assessment of the situation, a tag makes it a perfect short area, and just below it would represent a goal not able to be reached and thus bearish so go short my friends. It is the sell the rip phrase for a little while now.

So if they continue to kill them tomorrow, how about around $368 for some support with some other support at the 364.50. If we get there tomorrow, people will be in full flip out mode and a panic will start to waft through the air.