The 12/26 Bradley turn looks like a minor top in this cycle, but we never did tag the upper Bollinger Band on the daily SPX -- something we did do in the 2000 and 2007 tops. On 12/31, however, the upper Bollinger finally stopped rising and has started to come in. That would set us up for a possible touch of it late this month into the ECB announcement.
The January FOMC meeting? No news expected here, no rate hike until April at the earliest. But standing pat will be pretty bearish if the ECB does not take up the liquidity baton.
Wishing you a Happy New Year. There are some interesting developments in Seattle silly echo bubble real estate. I'll be walking a lot more in 2015 and will photoblog these horrors extensively.
|SPX wedge/diagonal into January ECB meeting|