8 Jan, Banner Day for the Dow

55% of US Stocks > 20 day moving average

52% of US Stocks > 50 day moving average

Market bias: neutral.

Predictability confidence: low.

It was a banner day for the markets as the Dow advanced 323 points (1.84%.)  I had suspected a move to the upside, but I didn't foresee a two day rally of this magnitude.  My entry parameters were not / have not been meet so I will not chase this rally.  I will stay on the sidelines until I see an entry point with high predictability confidence.   It may take a while, but I'm fine with that.