Commentary

1/26/21 Afternoon Signals xFC/x6

The market will probably stay in snooze mode until exactly 14:00 ET tomorrow when the Fed speaks. xFC has played CO quite well over the last 63 days in addition to the two 63 periods prior to that,

x6 is the most likely daily signal with x2 and x7 possible. Like yesterday, the weak CO numbers probably are less important than the pre-Fed lack of volatility.

It is definitely OK to be long here as downside risk is limited at least until tomorrow.

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