We need to exceed the 25981 zone on the Dow on the weekly chart basis to suggest the low in December/January is in place. We may have to deal with still testing resistance before the prospect of testing support.
We do not expect the market to breakout to new highs. The risk of a new low but holding above 21600 remains alive and well unless we close above the 25981 level on a weekly basis.
I just left associates and friends in Atlanta and was driving back to my home in South Carolina and was pondering our conversations while on the road.
What is fascinating is that Trump is opening the government until February 15th. This confrontation between the Democrats and Trump is pathetic. It shows that the two-party government comes first. The people are not first, they are second.
The public is now starting to wake up to become aware of the fact that the two parties actually were pretending to be different and playing ping pong every 4 years.
The election of Trump for president as the Republican and far left democratic socialists in Congress illustrates the cracks in our confidence that “the government is serving the people.”
I realized that many of you already know this is unfolding and “feel” it in their bones. Just know that the collapse of our market unfolds when that feeling spreads to the general public at large.
InterAnalyst has been serving investors globally since 1990. Authoring hundreds financial articles and publications, thousands of trading charts to investors worldwide.