Market Analysis for Jan 10th, 2022

Important lesson....relative strength 101

TSLA now $1040+.  Went from "red to green", stayed above 1025, green to more green.....😎 

It's often times, very important to look at the king pins or the flavour of the month to gauge additional clues from the market

If TSLA or megacaps like AAPL AMZN GOOGL MSFT as a whole cannot follow through to the downside when everything is in their favour with a gap down and go setup, then you gotta be aware of when they start catching a bid....gummy bears. Market wants path of least resistance for price discovery...

Ricky Wen is an analyst at ElliottWaveTrader.net, where he writes a nightly market column and hosts the ES Trade Alerts premium subscription service.