Between January 19, 2023 and January 27, 2023 daily engrbytrade™ Dow calculations indicate algorithms have been positioning the Dow to set up a brief move upward prior to starting a decline. The January 19 – 27, 2023 calculations are similar to results received between December 8, 2021 to December 17, 2021 and August 4, 2022 to August 9, 2022. Prior to conducting a decline in the Dow, algorithms are expected to move the Dow higher and fill a gap that was created in the 5-minute Dow futures chart on December 14, 2022. This would move the Dow above 34,617 in the futures market before a decline would start.
Algorithms are also expected to move the S&P500 above 4229 in the futures market to fill a gap created in the 5-minute futures chart between August 19, 2022 and August 21, 2022.
This move up is calculated to take 8.5 trading days (+/- 1.5 trading days). A move down is still expected in accordance the January 25, 2023 post.
Stock chart courtesy of StockCharts.com.
