According to my risk window summation system, the days this coming week or so with the highest risk of a turn in or acceleration of the current trend are Tuesday January 3rd possibly stretching into Wednesday morning and Monday January 9th.
Last week I noted that pretty much the whole week was a risk window and true to form every day last week a low or high formed. None all that notable, but turns never the less. Monday the 3rd's action will determine if the highest risk window sum day last week, Friday the 30th, will turn out to be an important turn up.
Well, it looks like this year Santa flew Southwest Airlines to Manhattan. Maybe he'll just be late like everybody else that used them over the holidays and show up this coming Tuesday with presents for all the kiddies on Wall Street. If I'm not mistaken, Yale Hirsh did include the first few days of the new year in the fine print of his adage about Santa not calling on Wall Street, so there is still time for good tidings.
Unless Santa is a no show tomorrow and the DJIA heads south instead of north-pole-ward, my alternate "b" wave count is starting to look more likely now that the parallel green trend line that I noted in a post last week has been broken. This alternate assumes that the "b" wave down in a three part move upward is complete and a "c" wave up to complete the "B" wave is about to begin possibly reaching the old highs in the DJIA. This count probably depends on continued good inflation numbers and Powell doing an Arthur Burns imitation at the February 1st presser, which, despite his Volker rantings, is his wont.
Happy New Year!
Douglas
