Market Analysis and Trades for 1/30
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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 1/25
Today was a great example of why I suggest re-reading the weekly plan at least once mid-week if not every day. I re-read my own plan when I remember to do so.
The key areas to hold (or reclaim) for the week were 25516-25538 NQ and 6922-6925 for ES
On Sunday night we saw futures trade through these levels on the gap down but they were quickly reclaimed and we saw strength and worked back up the levels.
For today’s plan we were expecting weakness (apparently an understatement) below 7014-7016 ES and 26180-26200 NQ
In the end, however, NQ and ES held where they needed to and once again were able to work back up the weekly levels.
While no major damage was done, it does perhaps seem a bit concerning that the big indices sell off 2% after every nominal new all-time high. Regardless, as I like to say “price can do a little F around and find out, but value tells the truth.”
Tomorrow, we close out the weekly and the monthly candles and profiles. What will value tell us?
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