SPY/QQQ Plan Your Trade For 1-28 : Temp Bottom Pattern

Today's SPY Cycle Pattern is a Temp Bottom.

After yesterday's big breakdown and consolidation, I believe the SPY will attempt to identify support, possibly near 597, and attempt to move higher a bit today.

Ultimately, a Temp Bottom pattern is where the price seeks out support (moving downward or retesting recent support levels) and then rolls to the upside, creating a base/bottom type of pattern.

The QQQ should follow the same pattern.

Gold and Silver seem trapped for the next 2-3 days (possibly melting a bit higher as the US Dollar appears to be moving downward a bit).

I don't see Gold/Silver starting to make any big moves until Jan 31 or in early Feb.

Bitcoin will likely stall out, just like the SPY/QQQ, over the next 2-3 days, then move into a downward price phase - attempting to move back towards 92k.

I believe the markets are stalling and in a bit of shock at the moment. Don't get too aggressive in any trades unless you are confident in your ability to manage risk levels.

Some sectors/symbols will trend. But the SPY/QQQ will likely stall out for another 2-3 days before making another big move.

Get some.

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