S&P 500 Mostly Down through January

Intermediate Term Forecast:

The weekly MMI vs SPX chart implies a market that's been ready to drop for some time, and is pointing generally down over the next few weeks.  The weekly indicators are mixed (momentum down after the first week of December, MM MACD neutral from buy, weekly trend indicator strongly bullish / topping).  The monthly chart shows a corrective decline through January and a sharp rally for February.

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."