Friday Jan 11th

Today is Friday, the last day of trading for the week.  It really has been a great couple of weeks of trading , so let's discuss a few things...

 
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This was in yesterdays report...

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QQQ –  I am also starting to see what look like rising wedges in The Nasdaq.  This can push higher, but keep an eye on it.  These can be short term bearish, and often break down, an example of this was seen last  February and April.

   

QQQ - The QQQ tagged the 50ssma and the wedge remains  in view.  Read the chart.

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Thursday – Decisions And Risk Reward

As was mentioned in yesterdays report, a variety of  the markets sectors have been climbing higher and trading has been excellent. Let's examine our current markets...

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This was in yesterdays report-

SPX #1 – If this is an ICL, we should have a month or two off of the lows, but we are seeing price enter ‘resistance’ areas.  It CAN push higher, but we are nearing an area that may offer resistance and stall price too.  The markets have been straight up, but going forward they may get choppy.

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Wednesday Jan 9th- The Climbing Wall

As the various sectors bounce out of their recent lows, they continue to do pretty good on the Climbing Wall.  Some may be climbing the so called 'Wall of worry'.  Let's take a look at the progress...

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SPX #1 - If this is an ICL, we should have a month or two off of the lows, but we are seeing price enter 'resistance' areas.  It CAN push higher, but we are nearing an area that may offer resistance and stall price too.

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