the sideways action that started in November has led many to conclusions that an important top is in the making. To me it looks like accumulation before getting to new highs. The stock market 

this year should start to correct, but it's still too soon for that. 

China said it would announce they would reduce bond buying. The U.S. China summit is in April so they are gathering their bargaining chips. This shouldn't really be having that much of an effect if at all. i said last week I think software bounces. I bought CRM and  IOT and am waiting to see what happens with MNDY.

IOT is my favorite but it is the riskiest, -357 PE, but it won't be hurt by AI. This one will move too much for some traders.

https://schrts.co/YXjWfcdG

Here' CRM, definitely not my favorite but it may have bottomed; Money flow has too improve or I'll ditch it.

https://schrts.co/KuNxbKsH

Here's the IGV 

https://schrts.co/AXPCRSXb

KOBESI LTR:  We now have: 1. US President with a 100,000 price target on the Dow 2. New Fed Chair who is "required" to cut interest rates 3. $2,000 stimulus checks back in discussion 4. US government buying $200 billion in mortgage bonds 5. New $1.2 trillion funding bill signed into effect 6. Trump saying USD is "doing great" after -10% drop Own assets or be left behind.

best wishes to her for a quick recovery

She is among the all time greatest and it's a pity what happened.

The Winter Olympics in Cortina are home to me as I live in a nearby area

My turn probability summation system predicts that the days this coming week most likely to see a turn in or acceleration of the current trend in the DJIA are Monday February 9th and Wednesday the 11th, however, readings are elevated for every day this coming week, so I would not be surprised to see turns any day. 

Last week the Monday the 2nd risk window in red on the finviz.com plot below tagged the low for the week which showed up early in the morning DJIA futures trading.  The  noon Thursday the 5th thru Friday turn window caught the blast off low, so all in all not a bad week for the system.

At this point it certainly looks like the uppermost green line in the plot above was not a flat top as I postulated, so I appear to have been dead wrong.  The two green lines now look like they encompass a consolidation area in a ongoing bull move.  Of course that massive short squeeze could be reversed early next week given the recent crazy volatility putting a top call back in the game, but for now it just looks like I was wrong.

I'm baffled about the driver for the short squeeze since even though sentiment had cooled quite a bit going into the blast off, it had not gotten excessively bearish according to the surveys that I follow.  So looking elsewhere, I just don't see any really earth shattering good news which would have justified such a massive move in the DJIA.  Maybe all the guys that got out near the top in the metals market were flush with cash and just needed a place to park it.  

Regards,

Douglas