SPY/QQQ Plan Your Trade For 1-17-25 : Gap Up Higher Pattern

Today's pattern is a Gap Up Higher in Counter Trend mode.

I believe this pattern would have resulted in a Gap Down Lower price trend related to the counter-trend setup. But it looks like the foreign markets drove the SPY/QQQ higher.

The obvious disruption to the SPY Cycle Patterns recently has come from the post-election concerns and the expectations of a broader credit/debt market crisis (which seems to be subsiding).

I believe we have to get past the Inauguration before we'll be able to see if the markets attempt to establish any defined price trend or continue to trade in a sideways price mode.

Gold and Silver are struggling to muscle higher - which I believe is the likely outcome for metals.

BTCUSD has moved back above $100k - but may struggle above the downward-sloping price channel.

Overall, at this point, I would suggest traders pull profits on any trades they have open as we move into the new Trump Administration and a slew of new EOs and new policies that may disrupt the markets.

We are very likely going to see some new price volatility over the next 30+ days.

Get some.

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