1/16/26 Recap
The SPY continues to drift over the 8 ema but you can feel the weakness under the surface. We don’t have any big tech earnings next week and vixpiration is on wednesday but you can see momentum close to flipping negative here. So we need to see a quick move up from here or we may get a small period of weakness with the VIX perking up right now. The market sold off mid morning as Trump was speaking and there was a sharp pivot from who the market was thinking would be the next fed chair when Trump made some comments and the odds dramatically shifted in another direction. Again as always, the market likes clarity and it just isn’t getting it right now.
Top Gainers From Yesterday’s Recap
My Open Book
Trades I Added Today
