There have been several top extensions in US indices. Here is one important example:
As we pointed out in the last edition, the largest turn event of January is expected today (Friday 17th – see front page for the chart) so we advise selling short immediately, as we always do when a combination of these two types of signal occurs.
There is a third reason for ‘fading’ the present upmove, namely the widely expected China-US trade deal was just announced. Buy the rumour, sell the news.
All signals courtesy of software supplied by our friends at Parallax Financial Research www.pfr.com
