By Licia Leslie
March 21, 2025
Hi Shoppers,
Our follow through rally failed yesterday leaving the bulls looking for reasons to stay bullish.
The S&P 500 Index (Ticker: SPX) has been honoring my pitchfork support for the last four days:
Will I hang my hat on that as bullishness? Nope.
We need a nice strong close over $5700 to kick a rally into gear.
The MACD is trying its best to go bullish, which it has in the S&P 500 Emini Future (Ticker: ES1!).
If we close below $5600, we will see $5400 very quickly.
With the April 2nd tariff date, we may just hang out here and not go anywhere.
The Japanese call that a box range.
As an option buyer, you want to wait for the market to trade outside that box range before hopping in.
We need more evidence.
Trade Review
Carvana (Ticker: CVNA) never traded below $163 but keep your eye on it.
Thank You for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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