Market Analysis for Jan 23rd, 2024

There really is nothing more to add to the analysis from yesterday, as the market has simply been consolidating. 

In very simple terms, as long as we remain over the pivot, the expectation is to continue higher to complete wave [iii].  A break out over yesterday's high should signal that wave v of [iii] is likely in progress, with the ideal target being the 1.618 extension in the 4909SPX region.

Of course, alternatively, a break down below the pivot opens the door to the yellow count.