Can this Momentum Continue?
By TradingAnalysis January 7th, 2020
Yes, the new year is here, and with it comes many potential market catalysts that can significantly impact the direction of the US equity markets. The on-going trade negotiations between the United States and China (January 13th we sign phase one, buy the rumor sell the news event?), and of course the 2020 Presidential Elections. We’ve discussed it before, and still believe we will be transitioning from a trade-headline-tweet driven market, to a poll driven market in 2020, and especially as we get closer to election season. All things considered, it’s should certainly be an exciting year for both traders and investors! So, stay tuned, buckle up and get ready for some volatility!
Interested in learning more about where we see the markets from a technical point of view? Tune in below for an extended market video update where we walk you through two very different yet valid scenarios for the US equity markets.
Although we’ve achieved our desired upside objective in the S&P 500, regardless of the higher degree trend implications both counts imply we ultimately resolve higher. As we’ve discussed previously, we need to be watching the price action that develops very closely once this initial 5-wave motive impulsive advance comes to completion. With that in mind, the next 3-4 weeks of trading should solidify and confirm the direction of the US equity markets for the next 3-4 months! Thanks for tuning in, and we hope to see you all every Wednesday morning at 8:45 AM Eastern on Todd Gordon’s YouTube Channel for our Elliott Wave Wednesday Livestream!