Thursday, January 16, 2020

Persistent market

Hello everybody,
Our disposition for today remains absolutely the same today as yesterday, and the day before, and the day before that (to be confirmed as usual at 2.45 Chicago time for our subscribers). With one E-mini (or similar) contract short, we are awaiting a signal for strengthening our short position by selling short one more if the S&P500 is sufficiently high.
We wrote yesterday that the momentum had stalled for stocks to go higher for the time being. Well, evidently not, since the S&P500 has jumped over the psychological fence of 3,300 right at the start. Some sort of dope is administered to the markets all the time. This time is was the actual signing of Phase 1 of the trade treaty with China.
Russia meanwhile is on the brink of great changes. The Russian society demands change, and at last there will be one: Putin will now not be just President, but Great Ayatolla, the Father of All Slavs. I congratulate all Russians on that.
Good luck,
ELP team

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