The ECB will announce their version of QE next week on Jan 22nd.   European stocks are already on the rise, the EC is down sharply with a 1.1410 target in sight.  The thinking is that the EC money will find its way into the stock markets including those US stocks with European exposure; that would include most all the large cap stocks in the S&P 500.

China announces their 4th Qtr GDP on Jan 20th.  With Europe in recession China’s growth rate becomes more important.

Monthly – Trade pressures are up. Volume is bullish.
the next target up remains 2191.

Weekly – Trade pressures are up and volume is bullish.
the next target up is 2112. The week traded down thru the short entry but did not close below, so still long.

Daily – Down all week then rallied at the close on Friday. The 1977 target held support. the next target down is 1957 and the 200 day moving average. Trading pressures are down. Volume is bullish.

Need a close above 2028 to restart the move up.