Final Week of January 2018

Welcome to the final week of January 2018!

Before we knew it, the first month of the new year has come to an end.

How was everyone's first month of 2018?

So far, January 2018 is ending exactly the way I predicted it to in my 2018 prediction and outlook report. (read it here if you hadn't: http://sharemarketcomments.blogspot.kr/2018/01/my-2017-review-and-2018-predictions.html )

The US market survived going into the intermediate correction that I expected last week as the US government ended a government shut down that could have gave the market the reason to take a breather across the weekend.

However, like I mentioned last week, that doesn't change the fact that the market is in an extreme short term overbought condition with the timing and position well placed for an intermediate correction this week or the next.

Supporting my opinion is the rising implied volatility in the market which usually precedes periods of volatility.

So, lets look forward to a great close to Jan 2018 and be cautious going forward.

For now, the market remains in all out bull trend.