1/18/2026
SPX momentum indicators look just as they did before the last big drop. That last drop was the Day of Liberation tariff Trump disaster. the clue was in late December when RSI PMO and MACD all topped and then began a downward slide. Now MACD, bottom, has turned down, PMO looks about to, RSI is losing momentum. Trump will appear at DAVOS Tuesday. When Clinton and Trump previously appeared to brag about the US stock market.
For Clinton it was January 2000, two months later the dot.com mania peaked and lost 75% of its value over the next two years.
For Trump, it was January 2018 and January 2020, the market dropped 20% and 38% in these two instances. Will history repeat? The markets are at new highs as they were then ,and as a Danish politician remarked, Trump does not understand how unpopular he is.
Markets are closed Monday for MLK day. Next update will be Tuesday
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