Update Jan 25

A quick post, today should be a pause or down day going into Thursday numbers. Yesterday didn't get the pullback I was looking for, we got an odd new high after hours when Microsoft reported, followed by a selldown. Yesterday I was a net seller not buyer. Tonight or today we should get the pullback. QQQ should hold 285 to 281 or around 11600 on NQ. I plan on buying this pullback - AS LONG AS SUPPORT HOLDS - here is why.  We were nearing resistance on nearly everything and were getting oversold. This gives us a cool down of the indicators for another run at breaking resistances. The market needs some kind of catalyst and Thursday is loaded with chances that will be released an hour before open. There is GDP, PCE, Jobs report, and Michigan consumer sentiment. All of which could be market movers. We have already sold down to 285 first support, I would like some sort of rebound or pause before resuming lower. I would like support to hold and build up towards yesterdays high again.

There is a bigger day tomorrow, hopefully today sets it up.

Be Safe, Be Careful, Be Wise and as always

Good Luck