Saturday, January 28, 2017

MTU Weekend Ed. - A Small Degree Breakout (1/27/17 close)

... draft in progress, subject to change ...

This past week's up-candle in SPX likely represents a small-degree breakout, when compared to the previous two breakouts (Chart 1). As such, a correction of (at least) the post-election rally is likely, especially in light of the five open gaps below (Chart 2). 
The futures market offer cleaner tracking counts than the cash market(Chart 3), which can be easily mapped into the cash index.