Weekend Update: On The Ropes

Before I get into the Weekly, "Long Term"  Sell Signals, I want to draw everyone's attention to these series of updates:

Ergo, The Giant Slalom 

"On Tuesday the market gapped down out of the gate, headed toward its first set of poles. Those are planted at the 25,000 level on the Dow. Once through those poles, the next set is at the 23,500 low of February 9th. After that, well, somewhere down below what will surely be a blizzard, somewhere deep down the hill."

Momentous Year Ahead 

"Coming up in the months ahead will be an opportunity like no other we have seen since the start of this service"

New Leg Down?

"The hourly chart seems to be in charge here the reward side of the reward: risk equation is outstanding, and worth the risk of buying SPY puts and re-entering the VXX calls."

How Far and How Fast?

"The key is to be cognizant of where the market is trending and our DOW/SPY model has been SHORT since February 2nd. The trend is down."

In the context of market action this week, each one of these Updates are worth your time to read again. They were all based up patterns emerging on the Daily and Intraday charts. Let's now add the Weekly charts to our analysis. 

The longer-term analogue between current conditions and those of 2000-2002 as well as 2007-2009, as depicted in the two charts below, is beginning to unfold. As I wrote on February 24th, we are looking at a momentous year ahead