LT wave for January 2023

The LT wave had a fair month in December.

The projected strength in the first days contained a weekend, and the subsequent weakness pulled the market down from the 5th. A few stronger days came on target and pulled the market back up. But that was very short-lived and soon followed by a serious drop in the next weak period. The final week of December was disappointing and failed to produce any rally worth talking about. Sometimes such a clear failure foretells underlying weakness, but we will see.

Here is the LT wave for January:

Mild weakness until around the 8th to start the year. Then a stronger period until around the 25th. The final days of the month are weak.

Normal caveats apply: the LT wave is experimental and doesn’t use any market or price inputs. Don’t bet the farm on it.