sp'daily5
R2K
Trans
Summary
A new year begins, and the markets open a little lower. Certainly, it is nothing for the bears to get overly excited about.
Technically, with the break <sp'1833, the door is open to the 1812/10 zone, but I find that hard to believe. Even then, we'll no doubt rally into mid/late January.
Arguably, for those who are still aching to short the indexes, the only reasonable entry level will be somewhere >1860..if not 1880. Even then, downside might only be 60-80pts - as was seen in the September down wave.
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a little more later...