The U.S. market remains in a Downtrend. The S&P 500 closed below its 200-DMA with the next level of support at 4,278. The Nasdaq is
now trading ~15% off highs and ~6% below its 200-DMA with the next level of support at 13,000. With the market in a Downtrend, we are
now looking for indices to establish and hold a new low for a minimum of three sessions, at which point we will shift the market status to a
Rally Attempt. From that point forward (day four and beyond), we will be looking for a follow-through day before advising a gradual
increase in risk.
