JANUARY 16, 2025 — THURSDAY AM
After tremendous strength Wednesday, we were cautious of potentially bearish thrust reversal signals developing early Thursday morning. So far, thrust reversal signals are developing in multiple markets, including in the YM and BTC. These early signals could lead to a morning pullback in the markets, perhaps as deep as yMID, and could signal digestive days after Wednesday’s strength, which could prime the pump for another decline ahead. Continue to watch yHI, as failure to find acceptance above these levels could confirm early weakness for the markets. Crude Oil is seeing a pullback day, which could fuel the next move into 81.50. Gold is attempting a breakout through the top of the large triangle pattern.
Cheers!
Frank Ochoa
Author, Secrets of a Pivot Boss
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