doubted by more and more players. I still think this is a medium term top we are forming. I didn't like the action I was seeing in the semis last week, if everybody is bailing out on Software and the Semis are shaky, the whole AI story and its lofty valuations come in to question. If we fail to rally we could se 6600- 7000 on the SPX pretty quick. Without the AI juggernaut valuations diminish but won't crash, I think 6650 catches it  we can't regain 6900 tomorrow, they will start getting really nervous. 7000 has already been crossed off the list, if 6900 fails Timmmmberrrr!. (JMHO)

I was in and closed my long positions months ago due to excessive prudence. Now that gold and silver miners are getting back to bear territory, at least in my own perspective right or wrong that it may be, 

 

the stock market has some more months to go bullish and then I believe it will be topping.  

Lincoln said it was the worst experience she ever had in a theater.

The peak this coming week in my turn probability summation system occurs on Monday February the 2nd with another lower peak at the end of the week stretching from roughly mid-day Thursday the 5th through the following Monday the 9th.

 

Last week the Monday January 26th summation peak tagged the high for the week.  What the the peak in the large summation window at the end of last week on Thursday the 29th was saying will have to wait for action this coming week.  

 

 

Last week the values in my longer term and short term sentiment summation indicators that I track indicate a good chance of a correction.

 

 

 

And finally, like the Kevin in Home Alone, Fed Chairman nominee Kevin Walsh is going to have to grow a stiff backbone if he is to survive the onslaught of barbarians at his door.  These miscreants will be trying to push him one way or the other on interest rates.  Recently he appears to have been waffling a bit, kowtowing to the POTUS's craving for lower rates probably just to curry favor for the nomination which apparently worked.  Now he will have to tack back to an independent stance to get through the Senate.  Given his recent comments and past actions, what Kevin's actual beliefs are will be a mystery until his first meeting and presser on June 17th assuming he will not take to the stump in the meantime and undermine J Powell. 

 

Regards,

Douglas

Shocked tp get alert on BITCOIN!  Seems as if "war drums beating near Iran"....

 

Bitcoin plunges under $81,000 amid reports of Iran explosions and thin weekend liquidity Bitcoin slid toward $81,000 on Saturday as thin weekend liquidity magnified selling pressure, with traders pointing to Middle East tensions, U.S. political risk and lingering crypto-specific uncertainty.

 

https://www.coindesk...nd-binance-spat