TRADING DP

[TREND1]

1/31 Ultra-Short-Term Indicators: The VIX is hovering near the bottom Bollinger Band which does suggest a bounce or pop to the upside. I wouldn't count on it to push much higher past the gap, more likely just enough to move the VIX back toward the upper band.



Conclusion: The market is treading carefully in anticipation of the Fed rate decision; although, the expectation is "no change". Investors have been cagey about President Trump's executive orders which may or may not be as business friendly as originally thought. Bottom line is that the market needs a decline or correction. It seems the modus operandi since the beginning of last year is a rally followed by mostly sideways movement, and then followed by more rally. Based on VIX and double-bottom on 10-minute bar chart, I would expect some upside this week, but ultimately a finish at the bottom of the original consolidation channel around $225.