SPX Bulls Held Where They Needed To: Important Reminder for Jan 17th
Reminder there will be no newsletter today due to the Holiday session tomorrow (NYSE is closed, futures are open for a half day), nor will there be the regularly scheduled Monday evening newsletter as I am still out of town as notified last week.
I have attached the last (abbreviated) newsletter sent out Thursday evening below and would encourage readers to re-read that and the full Wednesday newsletter. Trajectory included continues to track perfectly and I wrote Thursday: “3960 another spot to I may consider a knife catch long, or one could wait for it to hold and reclaim 3970 for safer entry”. We sold to 3961.75 Friday morning, reclaimed 3970, and this setup an excellent 50 point long to 4020 on Friday. I am holding a small, risk-free leftover long position from this into Monday/Tuesday and will trail until stopped out.
Broad analysis from below attached newsletter still applies for Tuesday and I have included some minor updates at the top.