FOR FRIDAY: (1/26) So a tag team with the Treasury Secretary talking down the dollar the last few days and Trump talking it back up. Created a lot of craziness for the markets on Thursday and now we have to wait for his DAVOS speech. Looks like stocks will recover on Friday.
MARCH E-MINI S & P 500
S & P ANALYSIS FOR FRIDAY: (1/26) The market did only the 3-wave bounce and failed with another 3-wave fall now projecting 2828.75. The chances of 2815 are much smaller. There’s some potential weakness into 9 am but then we’re inclined to think that the market will buy. What else is new? Market is often bid overnight with resistance at 2852.50. There may be one more scalp sale but not convinced that the 70-point fall is happening here, although we have waited long enough for it.
SHORT-TERM: (1/26) Have to focus on 2980 now and while we though that would take until June, it could easily be in much sooner at the rate of ascent.
CYCLE SYNTHESIS: Bottoming early Friday; higher into Jan. 27 and 31.
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