1/22/2014

There isn't a ton more to say about today's price action than there was yesterday....and every other day preceding it this month. The sideways pattern on the S&P 500 goes back 3 weeks, so any breakout should be decent.

I will say that on the S&P Daily chart, we appear to be forming the third impulse wave of the Elliot cycle...looks like it could bring us to 1870.

The Russell 2000 climbed again today and made a new high. I'd assume this index is leading the next bullish charge.

S&P 500 Daily Chart

Dow Jones Industrial Average Daily Chart

Russell 2000 Daily Chart