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Let’s talk January effect! Each year we look for it! It is a calendar motivated market move to study. It is based on price behavior seasonally expecting the stock market to trade lower in December and increase in January. It does not always work out. One basic theory is that for tax purposes, speculators may sell their positions in December and re-establish them in January. We kicked off the 1st trading day of the year with a high of $1272.50 for a high (Note the high of our CFRN Weekly Trade Zones)! Besides the technical points, US Manufacturing grew to 57 from 56.6 in November showing a steady 17 month rise. Construction Spending came in higher as well confirming a bullish sentiment for the day.