Morning Update: January 25, 2022

Greetings from ancient Rome!

There was some excitement yesterday.  A lot of broken support levels in the morning, followed by a flurry of buying into the close.

As I mentioned in yesterday's video, the market was set up for an oversold bounce.  And here it is.  Yesterday demonstrated at least temporary capitulation, with the highest volume in a month.  The lows are probably in on a short term basis, and the highs have most likely not been seen.

Different story for the intermediate and longer term, however.  Lower prices are coming over the next several weeks/months.

Swing trades on both sides, and sell the rallies for the longer term accounts.  Same strategy that we've been executing all year.

Rom Report by N/A is licensed under N/A

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