Basically it was a shallow more consolidation type day until Treasury Secretary Yellen stepped up to a microphone – it was a quick pop higher as the markets reacted to her dovish comments — on an EW basis it announced the completion of minute 4th waves and the launch higher within minute 5th waves. I discuss the possibilities that remain for the ES – the NQ was more (or I believe) clear on completing minute 4. Either way I review all the details on where finishing levels may be found and the potential for the markets to truly finish in a blow off manner. Tomorrow pre market @ 9 AM EST – Case-Schiller home index – @ 10 AM EST, Job Openings and Consumer confidence. Tomorrow after the close – AMZN, GOOGL, and MSFT report earnings.
January 29, 2024