Downward vector continues, just maybe not tomorrow

Call me, maybe?


If you get the joke in the subtitle above, consider yourself a rare pop-culture-fan / stock-nerd hybrid like myself!  Give yourself +10 bonus points.

Anyway, the market doesn't show any real strong signs of reversing the downward vector it has been on, but it just feels like we may get a little move back up.  After that, I think we continue down for a little while longer.  This uptrend has been forming an upward channel, and we would need to pull back a significant amount to make it "look right."  Also, the Fibonacci retracement of the "fiscal cliff rally" (the one on 2 Jan) is not at a significant level.. it needs to move lower.  Worth mentioning is a bearish divergence on the DJIA daily chart RSI.  I haven't seen anyone highlighting it, but I've noticed it.

Daily scores:

Below is a continuation of the Heikin Ashi candles I've been highlighting the last few posts.  We are seeing the larger candles I predicted in yesterday's post, but the lower wick of the last candle is not creating a lower low.  This is indicative of a minor momentum change.  It doesn't really signal anything significant yet as far as a reversal of the downtrend.

So, the bottom line is that I think there may be a small up move tomorrow, but I don't think the short term pullback is complete.

TSP:  G fund

401K / IRA:  Low Risk assets (cash, bond fund, etc)

GOOD LUCK TOMORROW!