Home > Stock Market Strategy, Stock Market Timing > WALL STREET CRAPS STOCK MARKET STRATEGY JANUARY 27, 2019

WALL STREET CRAPS STOCK MARKET STRATEGY JANUARY 27, 2019

January 27th, 2019

craps front coverSTOCK MARKET STRATEGY FOR JANUARY 27, 2019: The stock market experienced a choppy week ending up about where it started. In the process, it has worked out some of its overbought condition. The internal indicators are largely neutral which suggests that the market can go in either direction with the same probability – either up towards heavy resistance or down for a 50% retracement.

Key underlying short-term timing indicators show the following:

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THE BOTTOM LINE: It’s anyone’s guess whether the market corrects from here or rallies and then corrects. Perhaps there will be a tradable low in mid-February to take new positions on the long side. But momentum still appears strong to the upside and it’s a tough bet trying to play the downside. The December low’s extreme technical readings may have put in a solid bottom for many months.

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