Market Analysis and Trades for 1/21
Target Met
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The 2026 Equity Markets Year Ahead can be watched here: 2026 Equity Markets Year Ahead
The weekly post for SPY 0.00%↑ and QQQ 0.00%↑ should be reviewed prior to this. It can be found here Market Analysis for the Week of 1/18
After planning for SPX 6980 and NQ 26015.5 as a major area of resistance for 2+ months, both areas were hit last week. The initial dip on Wednesday was bought, but a second test and failure on Thursday left me quite bearish. I was looking for a retest of Wednesday’s low “by Tuesday.”
Friday then looked like clear re-distribution, on NQ in particular
This was after the the warning on Tuesday ahead of Wednesday’s sell:
I was accumulating a “bear savings account” which means taking profit from day trades and buying puts (a directional short on top of hedges). The bear savings account paid nicely today.
From the weekly plan, we were looking for a move to 6817.5-6821 below ES 6908.5-6911:
That entire move played out today, and that major sequence is effectively complete:
This was my short term target, and profits on shorts were taken accordingly. The question now is whether we see direct continuation lower, if that was a durable swing low for new highs, or if a lower high is likely to be made.
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