The bulls are buying time and now on borrowed time. The market is going to drop. Momentum is building for a drop (short-term). I have a 2week plan for the market which the bulls are trying to frustrate by holding their ground and making the market move sideways. But I expect the plan to come to fruition. The price actions on Thursday and Friday are exactly what I had been hoping to see for over a week in order to confirm the first 2 days of the 2week plan (i.e 10 market days). For it to continue on track, I need to see 2 more boring DOWN days on Tuesday and Wednesday just like yesterday's (Friday's) price action. More details of my expectation will be given after the close of each day. If it stays on track, expect a huge drop on Thursday.
Look for big down this week and the first half of next week with a short-term bottom on Wednesday January 11th and an upside bounce starting on Thursday January 12th.
Note that my expectation is not my trading. So, pay attention to my daily updates and comments with Entry, Target and Stop Loss because that is what my trading is based on. I only do what the charts say (Entry, Target & Stop Loss) not what I expect.
FOR TUESDAY: (mkt close on Monday)
Look for a tiny down day of about 3-5 points just like Friday's action with an open at the highs and close at the lows.
VIX-DAILY
SPX-MONTHLY
SPX-WEEKLY
SPX-DAILY
SPX-30MIN LONGER TIMEFRAME
SPX-30MIN SHORTER TIMEFRAME
