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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.
Let the games begin.
Moron the markets:
- Fakeout Shakeout, Volatility is Back 1/27/25
- Weekly Chart Picks: Your Edge in Swing Trading 1/27/25
- Golds Gains Are a Setup for More 1/27/25 January 26, 2025
- Liquidity Trends Update: Sentiment Shifts and Market Dynamics – January 2025 January 25, 2025
- Navigate 2025 Market Risks with Liquidity Trader’s Expert Insights January 24, 2025
- Liquidity Inflection Points: Navigating Macro Risks and Repo Trends – January 2025 January 24, 2025
- Primary Dealer Stress: Big Risks Delayed, Not Denied, in the Treasury and Equity Markets January 15, 2025
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