FOR THURSDAY: (1/25) NQ 7000 was too much for even number “sell junkies” and Paulson’s statement sent the dollar to the worst start in 30 years.
MARCH E-MINI S & P 500
TRADING RECOMMENDATION: Wait for morning comments.
S & P ANALYSIS FOR THURSDAY: (1/25) We had talked about a cycle low into Wednesday but gave up on it when the market just kept going up. Day-trade hotline sold 2854 but took quick profits and our buy at 2842 and 2840.50 didn’t get cancelled as 2856 just missed printing and we took two 10-12 point losses. Is the market matching the correction we saw on Jan. 16, which would project 2815? While we do have to worry about rising rates, not quite thinking this market is done or that a 70- or 100-point correction is starting here but a close under 2810 might change our mind.
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