Friday, May 24, 2024

ES Morning Update January 15th 2020

A small move down this morning, but nothing big. It's still looking like next week will be the key for the bears. Today, tomorrow and Friday really needs to carve out some small waves down and up (in Elliottwave) to setup a C wave down next week. If we pullback into this Friday (again... small, like maybe down to 3250's?) then I'd look for next Tuesday (market closed on Monday for MLK day) to be up. Basically some kind of A wave down into Friday and B up on Tuesday, then hopefully the bears will get a nice C wave drop afterwards.

The other scenario would be a move down today and tomorrow for the A wave and back up on Friday for the B wave, which should put in a double top to fool the bears over the weekend so they don't short it. Then the C down could start on Tuesday. I give that one the lower odds. I suspect we'll pullback into this Friday over uncertainty in the political scene. That's about all I have for now. It's just a waiting game right now. May God bless you and keep you away from SkyNet's tricks.

Author: Red

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