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Jan 16, 2023 Weekly Emini S&P Market Rundown & the Potential for the Market to Move to the Upside

Jan 17, 2023

Hello and welcome back to the trading week! With an extended weekend, it can be a bit harder to get back into the groove of things—but the market is here and we want to be prepared for it! So, we can see that last week’s anticipations of continuation to the upside did work out. The MACDs on the Daily chart stayed blue and  outside to the upside—and the market moved accordingly!
 
Now that its moved up to the area of the Large EMA on the Daily chart and we can see that we are VERY close to the area of resistance that has been holding for months, we have to watch the MACDs closely to see if they are going to remain up and out in order to break through the area. It does take some work and dedication to see the smaller nuances in the MACDs, but once you understand that, it becomes very clear on what to expect.
 
Even though I highly anticipate this to go up more, I will pay attention and I will remained focused on the immediate to give me more indication of if it should break through or if the area should hold and continue the movement to the downside. Either way it goes, we’ll be prepared and just breathe through it all, listening to what the market has to say about areas and expectations. All we have to do is listen.
 
Well folks, that is going to wrap up this week’s market rundown and what we can look for. If you’ve got questions, please feel free to reach out and as always, you know that I look forward to catching YOU on the profitable side.

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