MM Morning Notes - Market Analysis for Jan 9th, 2020

By Dr. Cari Bourette

Jan 9, 2020 - 11:20 AM EST

MMI is up for today and tomorrow (base case) with both days having the potential of being flip from up to down days (alt case). Saturday would be a "big move day" if the market was open, and could show up as a gap open in futures on Sunday. Because of a string of potential signal flips through Saturday, there is no call for Monday open (unless the flip shows up before the weekend).

There is a Sharp Drop Alert in effect from Friday through January 20. This is not a sell signal. It indicates that conditions are right for a sudden market drop at any time within this window, and cautions that risks for such a drop are elevated. Latest charts below:

Base case, no flips:

Alt case, flip Thursday-Saturday (flip on Friday shown in charts):

Dr. Cari Bourette is an analyst at ElliottWaveTrader.net, where she provides her proprietary market mood analysis in our flagship service, "Avi's Market Alerts."

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