Dow special - market update

The DOW weakness is already pushing it to the Nov lows but we might still be in the delayed mode for the other indices as the Tech holds up good relatively as expected. That makes the whole thing complicated a bit but not unpredictable. The BKX also puıshes for the lows but the SPX holds up relatively good as well. The crucial aspect for the overall market evaluation is the SPX it basically need to hold the 805 area for now to stick to my revised scenario but after all it still will go down only in a different wave count and make its rough in March. The DOW will also make another round of new lows in March but for now as we count the 10 today hence we will test the 7500 and briefly dip below before bouncing back above 8000. Only a weekly close below 800 SPX could activate a harder sell off right away we also have to follow closely the BKX as it should bottom out as well below 25 shortly and help the overall market to bounce back up Gold climbing back to the highs and carry trade currencies heading higher is overall confirming that the basic direction remains south.