MM Afternoon Notes - Market Analysis for Feb 7th, 2020

Feb 7, 2020 - 12:54 PM EST

MMI is down for today, and continues down for Monday open and (preliminary) for Monday. Even though the all time high was breached again this week, the recent MAM major high signal after a year of no major signals tells me the odds are that there is more downside ahead before much further upside (this signal pointed to being at or near a major high by January 27). The characteristics of the next pullback should tell us a lot. Latest charts below:

Dr. Cari Bourette is an analyst at ElliottWaveTrader.net, where she provides her proprietary market mood analysis in our flagship service, "Avi's Market Alerts."

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