Little things can grow into big things and the current price action that is occurring in January is acting in a manner that often leads into big things. And so far the price action has been acting in an expectant manner."
Previous Weekly Report
DOW S&P Monthly
US markets complete the reversal pattern from January highs into the 50% levels.
I would expect some volatility around these levels for the next 5-days, but it doesn't mean that the trend is going to find support and begin the next move upwards.
That's about 5-days away.
DOW S&P Weekly
I'm expecting support around these lower levels, but probably remain range bound between the Weekly 50% level and lows over the next 5-days.
I do have a view of a larger trend reversal taking place in 2010 (further downside) , but in the short-term I have to treat the market as range bound over the next 5-days around support levels.
