Happy New Year!

...but not a happy start to the day as the SP500 dropped 1.5% on weaker-than-expected manufacturing reports. As has been it's habit the last few days though, the action pushed hard off the lows. In the end the index was barely above break even at +.13%.

The last holdout band turned red today which is a clear sign to wait for more favorable conditions in the market.
5 out of 5 red bands.