1/15/26 Recap

The SPY gapped up overnight with the big report from Taiwan Semi. Yesterday we broke below the 21 ema and recovered closing right below the 8 before today’s move. There really isn’t much here until we get the Supreme Court tariff ruling and kickoff earnings season. In the meantime another potential breakdown was bought right where it should have been. Semis continue to the space to be with the SMH hitting new highs this morning while oil completely reversed going down 5% after Trump decided to not strike Iran.

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