January 18th Midday Update

The dow is -74 currently. The negative bias will need to continue into the last hour. Any major rally attempts that occur any sooner will most likely not hold. We need some strength to show up into the close. With a long weekend, the dow now down 2000 points from the recent high, and lack of economic data on Tuesday morning, I would bet on an end of day rally. But the market can and will do anything, so stay careful out there. Still holding all long positions.