TRADING DP

[TREND1]

1/30 Ultra-Short-Term Indicators: I was expecting to see more climactic readings today but readings were elevated, but not quite climactic. The VIX is sitting on its average, but it did make a move to the bottom Bollinger Band. It didn't penetrate it, so I believe we could still see more downside.



Conclusion: Indicators in all timeframes are suggesting more decline after the island reversal executed. There is a little bit of optimism that can be associated with the bulls ability to pull prices out of the basement today to close above support at previous all-time highs. However, overall I would expect more decline to test the bottom of the past months' trading channel around $225 at a minimum.