SPX500 - Daily Market Analysis 10 Mar 2025

The market will open lower today.

• - The bulls see this as a retest of the March 7 low.
  
• - They want a higher low followed but a higher low major trend reversal.
  
• - If the market breaks lower, they want a failed breakout followed by a reversal to close the day with a long tail or a bull body.
  
• - The bears want a continuation lower.
  
• - They need to create follow-through selling below the January 13 low to increase the odds of a measured move down which will take them near the 5400 area.
  
• - If the market trades higher, they want poor follow-through buying, followed by a second leg sideways to down to retest the current leg extreme low (now Mar 7).
  
• - The parabolic wedge increases the odds of a minor pullback. The move down is strong enough for traders to expect at least a small second leg sideways to down after any pullback.
  
• - If the market trades higher, traders will see the strength of the pullback. If it is weak and stalls around the bear trend line or the 20-day EMA, the odds of another leg down will increase.