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Friday, January 20, 2017

Market update Friday OPEX Inauguration Day

One word: Bullish

Dow could rally 400 points today in a powerful wave "c" (of D) in a broadening triangle.

The Russell also looks bullish after trading into a declining contracting triangle. That would call for a wave 5 rally to a higher recent high.

The 5 min SPX chart has me stumped, and I'm already out of time, but support looks like 2250, and resistance at 2265. Stocks could be pinned on this OPEX, but I think a rally is more likely. If not today, then next week, and into the end of the month.

Good luck Traders, AA

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