SPX Daily - Thursday, Jan 20

@ 4 PM
If the market breaches 1295, there is more upside to come.
If the market breaches today's low, the top is in @ 1295.

The bounce off of today's low may well be an abc correction.
If we breach today's high of the day first, we got a 5 wave up.

Hope the market can decide tomorrow and we won't have to wait over the weekend to find out.

@ 2 PM
Expect RUT to trace out an a-b-c up, while the broader indices trace 3-4-5 up.


@ 12 Noon

Markets look very interesting. Either of the possibilities mentioned yesterday cannot be ruled out.
Russell 2000 did break the Jan 10th low. Which is the low of minute 4 on the SPX as well.