Heavy events week with Powell’s speech on Tuesday, China CPI Weds, US CPI on Thursday, and Friday US Michigan Consumer Sentiment. The stock market could hold up into Wednesday at the latest before taking a breather.
1) Stocks could hold up as long as Wednesday and the upper target on the S & P futures is 3984. There do appear a few more places for entries either at the end of this week or into late January and Feb. is a better month for the market to take off and accelerate.
2) Watch breakout above 11450 for acceleration in NQ 100.
In both of these cases, if this happens, we may not get the big pullback until the end of the week.
3) Watch the dollar index at 102.07 for a minimum pullback and temporary low
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