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Monday Morning Rundown 1-24-22 Breaking Through Areas to the Downside and What to Expect This Week!

Jan 24, 2022

Hey there traders and a very happy Monday to you!! 

Man—what a HUGE move this market has made to the downside!  We’ve smashed the areas of the Daily EMAS like a hot knife through butter. And the price is making a mad dash for that 4200 area—the area that held us up for longs from May-June AND the area that we pulled back to in October. 

With the strength we see heading down there at the moment, it will be hard to see it as a place that could hold—but reading the reactions in the price and MACDs as the market moves through the day will always be the saving grace.  Knowing what to expect and WHY is what keeps any trader in the game.

Seriously though—we haven’t seen a consistent strong move like this since the pandemic came at us out of left field.  And the way the bars are closing, HARD at the bottom on our Daily charts is indicative of continuation.  It would take a pretty strong reversal bar pattern to happen before we really start to see the reason for this to move back to the upside.  Can it do it?  Absolutely!  Do I think today is the day?  Well—my mind says no—but only time will tell.

 Anyway it goes my friends—take your time, listen to what it is telling you and be ready to let go of what you think could happen and replace it with what is actually happening. When you trade, you can be on one side or the other—The one losing the money—or the one making it and well thought out decisions, while flowing with the market—will put you on that positive side… Which is where we look forward to catching you!

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