There’s no stopping US markets which continue to rampage their way higher, fuelled by the settlement of Phase One of the trade deal with China. And whilst many say the market cannot go any higher, the fact is it will as we have yet to see even the slightest hint the market makers are done with this campaign. In fact, the reverse is true, with the volatility of the 8th January delivering the perfect mechanism to shake the tree violently and pick up all the fruit which duly fell into their laps. A classic move with the ultra-high volume sending a clear and unequivocal signal of buying and therefore of what was to follow, which is now being delivered, as the three principle US indices climb ever higher. For the YM Emini 29,000 was the first level, and 29,400 is now on the horizon. And as if a plane moving to its cruising altitude, 30,000 is on the horizon.
By Anna Coulling
Charts from NinjaTrader and indicators from Quantum Trading
Hey Anna
Thanks as always for your commentary.
With respect to Friday, I thought the high volume on the Dow and Spy were odd, as the gains were quite small (.17%, .33%). Volume was bigger than the previous day’s rise of just under 1%. Is this an anomoly and worth noting? Could this be the market makers beginning their selling campaign – I understand we need to see more to confirm this.
My data is sourced from tradeview
Many thanks
Tony