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SHORT-TERM: COULD SEE MORE ON THE UPSIDE
Nothing to say. The intraday pattern looks like a Symmetrical Triangle, so we could see one more push up tomorrow. Also mentioned in today’s After Bell Quick Summary, not only tomorrow is so called Bullish Friday but also the Non Farm Payroll day is generally bullish.
Four things for your attention:
- The ISEE Equities Only Index closed above 300 again which is way too bullish. Well, I know, who cares.
- Don’t forget the 2 setups mentioned in 11/05 Market Recap, at least the volume pattern setup has been met as long as the week close in green.
- Surprisingly, the ETF table below now has 4 out of 6 short signals.
- The general pattern for tomorrow’s Non Farm Payroll day is open high goes lower or open low goes higher. The chart below is from Bespoke.
INTERMEDIATE-TERM: COULD BE WAVE 5 UP TO SPX 1300+, PIVOT TOP COULD BE AROUND 01/05 TO 01/12
See 12/31 Market Recap for more details.
SEASONALITY: BULLISH TUESDAY, JANUARY’S 1ST 5 DAYS IS AN EARLY WARNING SYSTEM
See 12/31 Market Recap for more details.
HIGHLIGHTS OF THE OTHER ETFS IN MY PUBLIC CHART LIST
| SIGNAL | COMMENT | |
| QQQQ | 01/05 S | |
| NDX Weekly | UP | |
| IWM | ||
| IWM Weekly | UP | |
| CHINA | ||
| CHINA Weekly | UP | Should have set the trend to down from up but I’ll see how the market rebounds. |
| EEM | ||
| EEM Weekly | UP | |
| XIU.TO | *01/06 S | TOADV MA(10) a little too high. |
| XIU.TO Weekly | UP | |
| TLT | Breakout, so TLT could be bottomed. Need watch the trend line resistance though. | |
| TLT Weekly | UP | |
| FXE | ||
| FXE Weekly | DOWN | |
| GLD | Could be an Ascending Triangle in the forming. | |
| GLD Weekly | UP | |
| GDX | 12/17 S | *1-2-3 trend change confirmed, so GDX could be topped. Be careful about gold itself. |
| GDX Weekly | UP | |
| USO | ||
| WTIC Weekly | UP | |
| XLE | 06/15 L | |
| XLE Weekly | UP | |
| XLF | 10/15 L | |
| XLF Weekly | UP | |
| IYR | ||
| IYR Weekly | UP | Home builders are lagging. |
| XLB | *01/06 S | |
| XLB Weekly | UP | BPMATE is way too overbought. |
- Please make sure you understand how to use the table above. The purpose of this report is to provide info so contradictory signals are always presented.
- Conclusions can be confirmed endlessly, but trading wise, you have to take actions at certain risk level as soon as you feel the confirmation is enough. There’s no way for me to adapt to different risk levels therefore no trading signals will be given in this report except the mechanical signals such as SPY ST Model.
- * = New update; Blue Text = Link to a chart in my public chart list.
- Trading signals in OTHER ETFs table are mechanical signals. See HERE for back test results. 08/31 L, for example, means Long on 08/31.
- UP = Intermediate-term uptrend. Set when I see at least one higher high and higher low on weekly chart.
- DOWN = Intermediate-term downtrend. Set when I see at least one lower high and lower low on weekly chart.
