ES Morning Update January 24th 2024

So far, so good. The market continues to hold its’ ground and grind higher slowly. This could continue all week, and if it’s more of a sideways move then I’d lean toward a top after the FOMC next Wednesday… like Friday the 2nd or Monday the 5th. But if we go up too much, like to take out 5000 by the end of this week, then I’ll lean toward the top before the meeting, like maybe this Friday or next Monday the 29th.

I just have to let it play out and see how the technicals align up. There’s really nothing to do but wait until this Friday as the earliest, or as late as Monday the 5th. Now “if” they do a last big squeeze up this week, and hit 5000+, then that will likely do it for the top. Otherwise I’ll still look for the end of next week, or the following Monday.

Have a blessed day.

P.S.  How do I know this will be a down year?  Because it’s already planned to be one.