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Four Hour Charts for the Major Markets- Jan 12, 2021

A look at the ES_F shows a bounce off support and a rally into resistance where we sit holding above 4704 but not breaching and holding 4721. How traders behave with the press away from 4717 give us the next trajectory

With the NQ_F the action is similar


YM_F still seems stronger than the others relative to the motion in general. Current resistance is certainly at the highs from today’s trading


A look at small caps shows that prices continue to weaken-Levels of note are mentioned


And oil is breaking out – this is a critical spot that usually brings noise from Capitol Hill – so we’ll be watching that for sure-


And gold remains congested at the clear resistance near 1840.


The US Dollar Index had a steep drop – not sure if I have found the reasons why we had such a preciptious drop but something to watch for sure