SPY/QQQ Plan Your Trade For 1-16 : Momentum Rally Pattern

evvelsi gün

Today's pattern suggests the markets will continue a rally phase - trending on the momentum from yesterday. It is likely the SPY/QQQ will attempt to rally and break away from the downward-sloping price channel I show on my charts.

Remember, my broader cycle pattern research suggests the SPY/QQQ will attempt to rally into Jan 20-23, then peak and roll downward/sideways into a Feb 9-10 V-Bottom pattern.

As I highlight in this video, the markets appear to be moving into a consolidation phase within the current downward-sloping price channel. I'm watching to see if the new Trump administration brings a BUMP (like last time) that breaks the US markets away from this consolidation trend.

Remember, the data on the US economy and earnings continues to be strong. A Trump-Bump will likely happen again, pushing the US markets into even greater dominance as the 900-lb Gorilla compared to other global economies.

However, until global central banks can move their economies to become more independent of US economic demand and imports, the process of working through the excesses of the COVID/Spending-spree administration (Biden) will continue as long as wealth in the US goes unchallenged (by some crisis or economic event).

So, again, expect the 900lb Gorilla to continue to dominate while there is no major crisis event in the future.

Gold and Silver should rally today on a RALLY pattern as well.

I believe BTCUSD is struggling to find support and may move downward over the next 10+ days.

We'll see what happens.

Get some.

#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold