ES Remains in a Contracting Coil Formation, Right into The Inauguration

Although I can get worked up about the inherent risks implied by the lopsided Bull vs Bear Ratio, about the timeframe for a peak in my 90-100 day SPX Cycle, and about the uncertainties of a new Trump Administration-- all of which suggest a very defensive equity-market posture, my pattern work belies those signals, and continues to indicate that the 5-week Coil Formation since the Dec 13, 2016, high at 2278.25 is poised for upside continuation into a potential thrust into new-high territory towards 2300.

At this juncture, only a decline that breaks 2257/55 will trigger preliminary signals to the contrary.