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

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."