A transition Day Perhaps

 1/13/2025

Morgan Chase earnings disappoint 

DOW on the two hour chart. RSI top and PMO bottom have turned down which is why  I label this a transition day. Notice in the link above that Central Bankers not only here but around the world have criticized DOJ's attempts to criminalize the FED Chair. Powell himself went offensive Sunday night saying it was an attack on the FED to get what Trump wants.  Powell has hired the premier DC law firm.

 

DOW Daily Below is the same one month time frame but on a daily chart. RSI is lower than a few days ago. The upper line of the PMO is topping. So looking at the same month is two different time frames gives us a clue as to direction, probably down. We noted January 9-26 is typically a down period. If so is that all there will be to it?  I saw a fellow on a cable business channel promoting collectibles, he had a baseball card  from way back like 1916 saying it had brought more money every time it had been sold. My take is that the sales were at a peak of positive social mood, as we are in now, so yes they brought big money. Had the same been at the dot.com bottom of 2002 or March 2009 of the sub prime bust, perhaps that would be a different story.  Trump claims to be working with Venezuela, how is that possible, threatening Iran and Denmark, a Florida Congressman introduced a bill to 'annex' Greenland, what is that I wonder,  Trump declares war on Powell and his own Atty General Bondi, and says we, get that we, will be screwed if the Supreme Court throws out his tariffs. Gee is that enough fights for one guy?

Gold and silver were quiet seemingly running into resistance. Tomorrow should see a transition down in hose markets as well. No change regarding interest rates. Oil rose over a buck. 

Next update after tomorrow's close.