has the market pain begun?📉
Hey team.
No time to waste.
Let’s jump right into this week’s events & trade levels that we’re eyeing up.
Impact Snapshot
Fed FOMC Minutes - Wednesday
NVDA 0.00%↑ Earnings - Wednesday
Market Evaluation
Stocks fell as Nvidia led a broader tech decline ahead of the earnings report as everyone is awaiting for confirmation that the chipmaker can meet the lofty expectations set by the artificial-intelligence boom.
Over the past several months, a string of stronger-than-expected data had many investors embracing a possible soft landing, in which inflation would fall to the Federal Reserve's 2% target without a severe economic downturn.
Recent data last week has challenged that narrative with inflation metrics showing prices increased more than expected, while the January retail sales report showed sales dropped.
Tomorrow Fed FOMC Minutes at 2:00pm ET takes center stage followed by NVDA report earnings afterhours.
Markets Breakdown
On Sunday’s report we’ve made a comment that “ Friday had signs of lost momentum”.
This activity followed up in today’s session with a rotation and break from the two-day balance.
On our morning trading plan we’ve posted here we were looking for markets strength to close the early downside gap, or the lack of.
Buyer’s didn’t find any meaningful continuation and market saw a rotation towards the pivot of the day which offered a perfect opportunity for a long scalp as we’ve showcased HERE, using our indicators.
Sellers maintained the aggression and pushed the market towards the first point of interest at 4971 that managed to contained the activity above.
With a volatile session coming up tomorrow, we will exercise caution as the market is likely to see directional activity.
The main focus is the ability to find acceptance above 5000s once again. We have no excess at the all time highs.
ES
The targets we look for until NY close & Targets to pay attention Tomorrow:
Upside Levels: 5004/5015/5040
Downside Levels: 4954/4945/4930
That’s it for today’s brief.
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See ya on Thursday.
Disclaimer: Futures and options trading carries a significant level of risk and may lead to substantial financial losses. The content provided in this newsletter is solely for informational purposes and should not be construed as a trade recommendation or financial advice. It is essential for readers to independently assess and make their own investment decisions, taking into consideration their personal financial situation and risk tolerance.