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Monday Market Update
Market Overview
* Stock indices gapped lower but rallied into close, with 3 out of 4 finishing green
* Performance: SPY +0.16%, IWM +0.19%, QQQ -0.32%, DIA +0.87%
* Bitcoin is trading at $94,200, up from $89,000, showing resilience at support levels
Key Events
* PPI data release tomorrow
* CPI data on Wednesday
* Bank earnings on Wednesday
* Inauguration Day next week
Trading Adventures is a reader-supported publication. To receive new posts and support my work, consider becoming a paid subscriber.
Technical Analysis
* SPY resistance level around 587, with multiple technical factors converging there
* QQQ resistance at 513 (8-day and 50-day moving averages) and 517 (anchored VWAP)
* The dollar showing continued strength, acting as a headwind for stocks
Notable Stock Movements
* Apple showed strength after testing August pivot low VWAP
* Palantir (PLTR) closed at $64.98, showing strength in after-hours trading
* Nike showing potential reversal after 6 days of decline
Trading Adventures is a reader-supported publication. To receive new posts and support my work, consider becoming a paid subscriber.
Looking For More?
Elevate Your Trading Adventure Even Further With These Offerings.
EpicTrades Options Newsletter
Real-time trade ideas and insights, providing actionable trading insights focusing on options trades with short-term horizons, aiming to capitalize on weekly market movements.
The approach includes detailed reasoning for trades, specific options, and profit targets, focusing on quick gains with less time commitment required from subscribers.
The Inner Circle
The Inner Circle is a Virtual Trading Floor (VTF) at T3 Live. It’s the group I’ve been working and trading with since 2022. You may have noticed the logo in the watermarks on my charts.
Founded by David Prince and led by him, Rick March, and Kira Turner, the Inner Circle is a community of elite traders, including hedge fund managers, family office heads, corporate executives, financial advisors, and even professional poker players.
Fundamental, Macro, and Technical Analysis all combine to find and discuss the best opportunities in current markets.
The Disclosures
***This is NOT financial advice. This is NOT a recommendation to buy, sell, or trade any security. The content presented here is intended for educational purposes only.
This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.trading-adventures.com/subscribe
View all episodes
By Andrew Moss, CMTMarket Overview
* Stock indices gapped lower but rallied into close, with 3 out of 4 finishing green
* Performance: SPY +0.16%, IWM +0.19%, QQQ -0.32%, DIA +0.87%
* Bitcoin is trading at $94,200, up from $89,000, showing resilience at support levels
Key Events
* PPI data release tomorrow
* CPI data on Wednesday
* Bank earnings on Wednesday
* Inauguration Day next week
Trading Adventures is a reader-supported publication. To receive new posts and support my work, consider becoming a paid subscriber.
Technical Analysis
* SPY resistance level around 587, with multiple technical factors converging there
* QQQ resistance at 513 (8-day and 50-day moving averages) and 517 (anchored VWAP)
* The dollar showing continued strength, acting as a headwind for stocks
Notable Stock Movements
* Apple showed strength after testing August pivot low VWAP
* Palantir (PLTR) closed at $64.98, showing strength in after-hours trading
* Nike showing potential reversal after 6 days of decline
Trading Adventures is a reader-supported publication. To receive new posts and support my work, consider becoming a paid subscriber.
Looking For More?
Elevate Your Trading Adventure Even Further With These Offerings.
EpicTrades Options Newsletter
Real-time trade ideas and insights, providing actionable trading insights focusing on options trades with short-term horizons, aiming to capitalize on weekly market movements.
The approach includes detailed reasoning for trades, specific options, and profit targets, focusing on quick gains with less time commitment required from subscribers.
The Inner Circle
The Inner Circle is a Virtual Trading Floor (VTF) at T3 Live. It’s the group I’ve been working and trading with since 2022. You may have noticed the logo in the watermarks on my charts.
Founded by David Prince and led by him, Rick March, and Kira Turner, the Inner Circle is a community of elite traders, including hedge fund managers, family office heads, corporate executives, financial advisors, and even professional poker players.
Fundamental, Macro, and Technical Analysis all combine to find and discuss the best opportunities in current markets.
The Disclosures
***This is NOT financial advice. This is NOT a recommendation to buy, sell, or trade any security. The content presented here is intended for educational purposes only.
This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.trading-adventures.com/subscribe