January 26th Daily Market Comments

Today’s positive trading in the markets is an inference that yesterday’s breakout through the resistance level of the past two months was not a fluke.

Wave three has started, clearly illustrated in the Dow which formed a left/right bullish combo, followed by a gap up through the resistance level. 

20,000 on the Dow is a nice round number target but is ill relevant as far as the direction/magnitude of investor sentiment. Anticipate wave three to be in progress in the markets.