Our LT wave had a good month. Expected strength in the first week did not pan out and hardly kept the market up, leading into the expected weak period which took the market significantly lower. The rebound in the final week came right on target. This is the LT wave for January:
The month is projected to start with a weak period until the 5th. And after that we enter a period of cross-currents which are difficult to read because the quicker blue line starts moving countercyclical to the slower yellow smoothed average line. Normally they move more or less in tandem, but that’s not the case this month.
What will take priority? I don’t know. Maybe it will be a sideways month, with the market looking for its next major direction, testing both the upside and the downside alternatively. Going on the blue line we see projected peaks on the 8th and the 27th. Bottom values come on the 5th, the 16th and the 30th. I am curious what will come of it.