Industrials set for above-average outperformance in March

The choppy near-term consolidation over the last week remains ongoing as February was officially closed out with SPX lower by nearly -2.5%.  Yet, downside likely should be contained near 3920-30, an important area of support which could represent a bottom to this February decline.

Elliott wave structure still argues for a potential “final’ pullback to test and break last Friday’s lows;  However, this would be quite constructive to buy dip...

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