SPY/QQQ Plan Your Trade For 1-22-25: BreakAway PatternToday's BreakAway pattern suggests the markets will attempt to move aggressively away from yesterday's closing price level. I do believe the markets are over-extended to the upside. Which is why I continue to warn traders that we may be nearing a top/peak price level and to prepare for a rollover type of top in the SPY/QQQ.
My broad cycle patterns suggested the markets would top near Jan 20-21. I believe we are seeing a type of carryover momentum move to the upside as a result of optimism related to the Inauguration.
Now that the Inauguration is complete, I believe the markets will start to "resettle" into reality.
The SPY/QQQ should move into a rolling type of top pattern over the next 3-5+ days, then trend downward into my Feb 9-11 DEEP-V Base/Bottom.
Gold and Silver are likely to move higher in an attempt to hedge against global risks and uncertainty.
BTCUSD is moving through the current EPP pattern as the flagging breaks down. This should prompt a move back to the 92k level, then a brief pause before trending further downward.
Remember, the markets are likely to stall out through H1:2025. Get ready for volatile price swings before we move back into trending near the end of 2025.
Get some.
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