Market Timing for 01/26/2006

After midnight here, I saw Europe open and the futures indexes held their ground and then advanced. It looked as though strength had "been proved". I went to bed with the intent of sleeping in, and, I did. It's not market timing related, but it was what I did. :)

Structure here seems slightly 'over the wall'. The SPX and OEX has left an opening gap. I expect an attempt to cover it which means indexes will likely have another range bound day. Some might call it a retest of the breakout. I expect the move upward to continue to at least the SPX 1288 level. We will assess the action along the way.

Today, I have a few brief events to deal with off the www. I will post next at 1430 E.S.T.

Good Trading and God bless

W. B. Busin