The EminiForecaster tentative forecast for the trading week ending March
27th is now posted.

http://eminiforecaster.com/members/membersblog/forecaster.php

We expect the market to be up next week all week, from about Tuesday
through Friday.

The current forecast did well for the first two days of this week and then
the Federal Reserve announced they would create $1.2 trillion in new money.
 This shocked the markets, sending it higher, at least for the day
(Wednesday).

The Overall Market Rating (OMR) remains bearish, so it is not likely that
a rally can sustain. However, there is no doubt, the bulls have finally
regained some control (at least for now).  Use caution while the market
returns back to a more un-manipulated state.  This whipsaw action has also
thrown our intraday alerts for a loop.  In past updates, I have written
about this; where the market abruptly changes direction from a strong move
on the previous day against us.  Hopefully we are returning to a normal
market. Average and median daily ranges are in the 25-26 point range on the
S&P and have remained there for most of the year.

I usually don’t discuss such things, because it is not fully relevant to
the shorter term weekly forecasting we do on this site, but here are some
thoughts working in the back of my mind:  I have looked at some of the
longer term cycles and there is reason to believe there is a low in place
and that the market will not be returning to the lows seen earlier in the
year for at least two to three months.  This is in contrast to other
measures that oppose this idea such as the OMR.  As a result, we may see
the market in a trading range that will develop in the coming weeks.  This
change in cycling can wreak havoc on our cycles sometimes, so I urge
further caution in this respect. Last year, about this date, we had a
condition where the cycles had been running quite well, as they have done
so far this year. Then, suddenly they shifted for a time.  I did a lot of
work to try to determine what was driving this force, and I was never able
to fully identify the cause.  Not that this will happen this year, though
it always lingers in the back of my mind.  I will let you know if I think
we are off base.  As for now, please just use caution while the market
calms down from these very massive financial and political abnormalities we
are seeing.

Key levels are 800 and 820 on the upside and 730 and 745 areas to the
downside.

More as needed on Sunday.

Wishing you the very best,

Vadim, Rob & Staff