US Markets - Updated charts of the S&P with a weekly view and potential downside targets

Cerundolo Investment Research    

US Markets Update  

Volume 6, Issue 14
February 24, 2022

Items of Interest: 

Below we show the daily S&P 500 Emini Futures which has the index now very close to the MFU-3 target we identified last month. This pattern has morphed the weekly outlook to a very bearish one where those Money Flow Unit targets supersede what we have on a daily basis. Please review the second chart below. We must also point out that there is potential for the index to decline to the weekly MFU-3 target which is 3029, -37% from the January high. No one wants to see a decline of that magnitude, but we must highlight that potential given what our work is showing using this methodology. We also attached the original emails dating back to December 20 for your review. Happy to help with any specific questions on other indices, markets or individual stocks.