UPDATE January 24
This is a quick update before I get my year outlook post done. We will "crash," but when is the question. For now, we are squeezing up.
This portion of the squeeze should end today or tomorrow 🤔 Maybe we run until the FED speaks next week. but I think this week is the top for this sequence. There is a full moon 🌚 tomorrow, the 25th. Things can get crazy on full moons. With today's meltup, we could put in a top today. Uranium and other commodities look good 👍 (steel) $Cleveland-Cliffs (CLF.US)$
A peek at futures
we are flying. That should always raise red flags.
We are already over the expected move of the day, so that leaves fib levels. 17740 to 17880 are my next targets.
squeezing up, new highs imminent, then a pullback or breakdown.
I expect a pullback in the near term before one more leg up and then over the next few weeks a larger correction. A correction of about 10%, maybe. Here is QQQ, I show QQQ because it is the tech ETF and somewhat tracks the nasdaq. It leads on the way up and down. That's why I show it. It gives me a general view of where the market is going.
upper levels of 431.50 to a high of 435.50. Lower support of 425.70 and then 422.60 as the lower limit for today.
some individual stocks I'm in outside of commodities
The report on Feb 1, I need to see them get over the mid bollinger at ~203.20, then we should be on our way to 210.
Finally made it over the mid bollinger. They report after market today, so tread carefully.
Be Safe, Be Careful, Be Wise
and as always
Good Luck ![]()
Have a glorious day, everyone 😀
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Engineer, Commodity Buyer, Alert Bettor,
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Violets : unprecedented highs in September of 1929. we all know what happened next
71431471 : Thank you
101633546 : Hi can help do a big picture view for S&P 500? thanks
Violets : where do you think next lower support?
iamiamOP Violets: I just made a post. but which stock?
71280062 iamiamOP: Tesla
thank you!
iamiamOP 71280062: Tesla lower support is around 172
71280062 : hi, Is it possible that the larger correction is related to the Fed's interest rate decision?
iamiamOP 71280062: yes, that's why I said the market could push up until the FED. it seems to be digesting the move now for one more leg up before dropping at most likely the fed.
71280062 : Hi! Vix is up and bond is down today, what do you think?
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