ES Morning Update January 7th, 2016

0
967

a8f1352e-0aa7-4130-aad0-9c0f3435624cNot much to say here.  Markets continue down without much of any bounce.  At this point we just need to wait until the FP on the SPY is hit as that should be the bottom.  If we continue down at this rate of speed we could hit the FP on Friday or Monday at the latest.  My turn date of the 9th (+/- a day or so) is obviously going to be a bottom now and not at top as I previously thought might happen.

This also means that the low I was expecting toward the end of February could flip to a high instead.  Not positive on that, but it's looking likely right now.  That would then flip February from a rally month to a selloff month.