The small caps January effect didn't materialize as they continue to lag

Utilities Sector is the only S&P 500 sector still with a short-term Ichimoku Cloud bullish signal

That may change next week

S&P 500 P/E ratio is below its 250-day moving average

Nimble traders should wait until it turns up and crosses the moving average before buying into the market.

$FDX - Bullish long-term and an opportunity to pick up some shares by scaling in

Our Vanguard portfolio allocations

70% stocks/30% bonds

TWTR shows resistance around $40

Facebook has settled above $75 after being manipulated above $80 back in December

$FB

United States Gasoline Fund ($UGA) turns up

$NATGAS - Winter has yet to have an impact on natural gas prices

Unleaded gasoline closes above 20-day moving average and may be a sign that prices at the pump will rise

$BRENT rallies 7% and has support around $50/barrel

Spikes in the fear gauge ($VIX) are good market buying opportunities

Wait until $VIX starts to decline

$SPY daily chart has bearish tone with $SPY trading in the cloud.

Aggressive traders should buy since intermediate trend is still bullish.  Nimble traders should wait until daily and weekly charts align.

$SPY is above the cloud which is bullish, but is in a trading range

Weekly chart.

Stock-to-Bond Ratio (VTI:BND) is at a decision point and will favor bonds when all 3 indicators turn negative

Our Market Timing Indicator will issue a sell signal if the S&P 500 drops below 1,970

1-year performance of major ETFs is above the total bond market benchmark

Avoid when the performance is below the bond benchmark.

Exit the market when 1-year performance is below intermediate bonds or turns negative

Industrials Sector ($XLI) is bullish

Technology Sector ($XLK) is bullish

Consumer Staples ($XLP) Sector is bullish

Financials Sector ($XLF) is bearish

Materials Sector ($XLB) is trading sideways within a $47-$49 range

Utilities sector ($XLU) is stretched so be cautious

$NATGAS prices show support zone around $2.80-$2.90 with winter storm barrelling down on Northeast

Natural gas ETF shows underlying buying pressure in Accumulation Distribution Line as massive snow storm approaches the Northeast

Facebook ($FB) bullish signal issued

Russell 2000 ETF ($IWM) has traded in a range of 107 to 120 for over a year

Nike ($NKE) is showing bullish signs, but needs to exit the cloud for confirmation

$TWTR flashes a weak Ichimoku Cloud bullish signal as it closes above the 20-day EMA

Natural gas ETF remains bearish as seasonal price rise doesn't materialize

$UNG

Ichimoku Cloud bearish signal for American Express ($AXP) as price gaps below the cloud

Bullish signal for $QQQ

Southwest Airlines gaps up and sets a new high

Ichimoku Cloud issues strong bullish signal for Delta Air Lines as it sets a record high and Tenkan Sen crosses above Kijun Sen

Russell 2000 - S&P 500 volatility spread begins to normalize

Declining $VIX is a bullish sign for the market

Ichimoku Cloud flashes bullish signal for $SPY as price closes above Kijun Sen line

Ichimoku Cloud: Bearish for $VIX which bodes well for the market

Ichimoku Cloud: Currently bearish for SPY, but potential upward momentum is forming

Ichimoku Cloud: Bullish signal for Delta Air Lines ($DAL)

Top 3 S&P 500 sectors over a 1-year period are $XLU, $XLV, and $XLP

Equity Put/Call Ratio ($CPCE): Market Sentiment: Bullish

S&P 500 P/E Ratio: Sentiment: Bullish

Exxon Mobil ($XOM) - Sentiment: Bearish

Amazon ($AMZN) - Sentiment: Weekly chart is Bearish

Bearish Sentiment:

• Price below Ichimoku Cloud (Red)
• Price below 20-peiod and 50-period moving averages (Red)
• Indicators - All bearish signals (Red)

Commodity Index ($CRB) continues to underperform the S&P 500, the U.S. dollar, and 10-Year Treasury

Precious metals ($GOLD, $SILVER, $COPPER) continue to underperform the S&P 500

$QQQ - Ichimoku Cloud: Buy signal may be near, but not here yet

$QQQ - Sentiment: Weekly chart is Bullish