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01.26.2023 – THURSDAY MARKET OUTLOOK

Market Outlook
 

Another day of investors chasing stocks they were selling just a few days ago and that they will probably start rapidly selling as soon as someone like the FED spooks them again. We rallied toward the target price at 4,050 (we reached 4,061), and now we are near the upper-level target at 4,100. There is still a possibility of a retreat unless the traders get crazy, as they did in 2021.

 
Market Outlook
 

We are currently sitting at the downward sloping trend, so we have work to do. And be careful; we are also creating a double top (near-term). So we are at a resistance, possibly double top… a lot of hurdles to overcome.

 
Market Outlook
 

No changes in the Ichimoku chart. Same view, the same possible issues.
The forecast predicts the market going higher. The only caveat could be tomorrow’s PCE report which may send the market deep down, but I do not expect it. I think the PCE will indicate prices cooling off, and the investors may take it as a potential for the FED to pivot.

 
Market Outlook
 

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