Market Talk – January 6, 2024
ASIA: The major Asian stock markets had a mixed day today: • NIKKEI 225 decreased 587.49 points or -1.47% to 39,307.05 • Shanghai decreased 4.51 points or -0.14% to 3,206.92 [...]
ECM Turning Point this Weekend
The Turning Point on the ECM is this weekend. We do happen to have a Directional Change next week in the Dow with the next turning point due the week of 12/04 and that is followed by the week of 12/18. What is most curious, is the fact that the Dow, Euro, Gold, and Oil all have the same timing targets, with oil showing the week of 12/04 is the strongest.
We are witnessing the global markets beginning to align. This is implying that international expectations are starting to dominate domestic or isolated market fundamentals.
We do not expect this turning point to be a monumental one. What this reflects is the markets are starting to align preparing for 2018 and the beginning of a new round of fun and games.
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