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Prepared by StratagemTRADE.com and Scott
Writing under the nom de plume of J.L. LORD

Wednesday | January 15, 2020

Hello Mayumi.

YESTERDAY'S CLOSING PRICES

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YESTERDAY: January 14

This was the second day of the year that the markets acted like a normal market, meaning it had 2-direction movement. It is safe for me to start Rolling Thunder spreads again!

I have no idea why the markets struggled today. Some of it was certainly news that came out at 12:30pm Chicago time that Chinese tariffs would not be removed soon. We also saw the Fed schedule to start removing money from the system in February, which is the opposite of what they have been doing for months. We also had the start of earnings today with mixed results.

THE DAY

The market opened slightly lower and slowly climbed into the green by 11am (Chicago). By 12:30pm, the SPX was up $6.12 and making new highs of 3,294.25. This is one strike from 3300 when news came out indicating the Chinese tariffs would stay in effect until after the election.

This caused the market to drop $17 SPX points quickly before closing down 4.98.

Other than the period between 12:30pm and 1:30pm, things were quiet; however, we are getting two sided movement again.

OUTSTANDING

AAPL – AAPL closed down -4.28 at 312.68.

VIX (below) hit the lowest levels of the year so far, which was a great time to start VIX Collars.

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TODAY: January 15

DAY TWO OF EARNINGS

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BUSY DAY OPENING LOWER

We have the signing of PHASE ONE of the CHINA TRADE DEAL. We also have Congress dealing with impeachment again. I am not saying that after weeks of delays, they chose today to overshadow the China deal, but....

My medium term guess? A couple days down to get profit-takers and nervous traders out, then a run to SPX 3,300. We will play with that number for a bit, and then run through in a massive fast run higher, and then we get a big drop.

Just a hunch.

2020 ONE-YEAR PREDICTION:
Average year with lots of intermittent volatility
(+1.62% so far)

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