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Relentless Buying Has a New Target – 1/29/25

This is a syndicated repost published with the permission of Stool Pigeons Wire at Capitalstool.com. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

Buy the dip is back. Monday’s selloff was a counter-technical, countertrend shakeout that allowed the dealers to load up on inventory at bargain basement prices. And now it’s back to the normal program. Fakeout Shakeout, Volatility is Back 1/27/25

Is it frustrating? Sure, but this too shall pass. The question is when. Meanwhile we take what the market gives. Weekly Chart Picks: Your Edge in Swing Trading

Meanwhile, this morning we have a 5 day cycle projection of 6200. First they have to rise through the gap which is apparently presenting some resistance in the range of 6075-90. Then there’s big trend resistance around 6100. Finally, there’s the recent high of 6125-30. All of those are potential stopping points, but as for likelihood, call me doubtful.

For spport, watch the trendline rising from 6060 at the NY open to 6075 at the close. There’s another short term spport line above that rising from 6070 at 7 AM to 6083 at the NY close. If that line holds, it would be a launchpad setup.

18njhs

Let the games begin.

Moron the markets:

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