Friday Jan 18 – Options Expiration

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Today is Friday, the last trading day of the week.   It is also "Options Expiration,' and that can affect pricing and volumes a bit, but so far things continue to play out pretty much as expected,  so lets just get into our Friday report...

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Jan 17th – Thursday Markets Await

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SPX - We still have a wedge that has formed. These usually break down, so with the SPX at the 50sma and a wedge, I would think that we may pull back for a few days.

 

That could be a 1/2 cycle low and it is not uncommon...

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WEDNESDAY – Bouncing Along

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SPX 1 of 3  -  After the pause that we expected under the 50sma, the equity markets actually look ready to break higher already, so

 

I want to show you these 2 charts ...

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