TRADING DP

[TREND1]

1/19 Ultra-Short-Term Indicators: We saw somewhat climactic negative readings on the Participation Index - DOWN and CVI. Normally I would see this as an initiation to lower prices. I still think that is possible, but the VIX is beginning to flirt with the bottom Bollinger Band and that generally means a few days of positive price movement. Given options expiration tomorrow, we will likely see more shake out but next week these indicators suggest a few days of upside price movement.


Conclusion: There is a new declining trend channel forming within the current trading channel. There is room for price to move somewhat higher and remain in the declining trend channel, but ultimately given bearish intermediate-term indicators and soft short-term indicators