Another reversal day, this time with the market closing down 59 points. The downtrend is now fully in place, I think and has a way to go. With a down week, the weekly chart will also turn decidedly bearish. Everything is pointing to lower prices on the Dow. What will be the "fundamental" news excuse for this: Oil prices, a weak job market? Whatever the "reason" given, the market should go lower and quickly so.

The hypothetical short entry we made is now -17 points. (This was corrected on 3/16)