Lowry Mid-Week Commentary Week of March 15, 2023

One important quality of objective market analysis is that when the data change, so must the conclusions. In that light, it is worth revisiting comments made in this report before last week’s reversal and sell-off. “Nominal pullbacks (of indicators) with price are to be expected, but as long as uptrends in momentum, Demand, and breadth hold, probabilities for new lows remain subdued. Conversely, significant deterioration in longer-term indicators would change that view to something more ominous.”