Hello Everyone,
Quick comments: Choppy session today with the major indices ending mixed with the DOW/IMW higher and the SPX/QQQ lower. Breadth closed the session positive across all the indices with number of stocks above their respective 20 day MA's increasing. The bulls want to see this continue showing the number of soldiers (breadth) improving/expanding. No changes from the weekend - as price remains range bound for now.
ES support 4485 4450 4400 resistance 4530 4570
Administrative Note: I had a follow up with my ENT doctor yesterday and I will be having surgery on my vocal cords on Feb 8th and will not be able to even talk for at least 7 days. So please hold down the fort while I'm away.
Note: Several previous ideas on watchlist remain valid but simply have not yet triggered so continue to re-examine each night. Consider making a fresh top 10-12 setups each night and put on front page along with existing trades. My advice is to keep your total ideas to a manageable number. Lastly, it's best to wait at times for valid setups to form - sometimes less is more.
Please take a moment to look at the trade ideas.
