2/1/23 Here are the Odds: 83%, 92% & 100%


Markets finished higher on Tuesday, technical support held, and a new major breakout was recorded … More on that below.

The major indexes all but erased Monday’s losses…

  • Dow Jones +1.1%
  • Nasdaq +1.7%
  • S&P 500 +1.5%
  • Russell 2000 +2.5%

January finished the month up 6.2% … its best performance since 2019.

2019 is also the last time the January trifecta ended with a 3-0 record in favor of the bulls. The trifecta includes…

History offers clues about what happens after a bullish trifecta…

Image from knowyourmeme
  • 83% of the time, the year ends green
  • 92% chance bulls prevail when it’s a pre-election year 
  • 100% — the year after a bear market, bulls have yet to lose

Sector Round Up

All 11 sectors ended Tuesday higher.

At the top…

  • Consumer Discretionary (XLY) +2.3%
  • Materials (XLB) +2.2%
  • Real Estate (XLRE) +1.8%

At the bottom…

  • Consumer Staples (XLP) +1.1%
  • Energy (XLE) +0.9%
  • Utilities (XLU) +0.7%


The Dow Jones ended its bear market on November 30.

The Nasdaq broke out on January 24.

The S&P 500 broke out and held support on January 27 and 31, respectively.

Now the Russell 2000 is joining the party…

RUT Daily Candles – Chart via thinkorswim

We can’t find a single reason to be bearish right now.

Our latest reading…


Today is the day the market has been waiting for…

We’ll be watching the market’s reaction and reading the statement after the close.

You’ll get a full update tomorrow morning. 

Happy Trading :)


*Low Float
^Open Position

*CUEN support at $1
*MGAM support at $1.75
SY support at $2.50
^AEHR support at $30
CABA support at $12
DPRO on watch
TBBK support at $32
APLD support at $3
BZFD support at $2
CBAY support at $8
TOUR resistance at $2.50
SUMO support at $11, resistance at $12
TGTX support at $14
HIMS support at $8
AMLI support at $3.30
IQ resistance at $7
TUYA support at $2.75

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