01/26/2023 Live Update

[Cobra]

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Double top or not, wait and see.

[Cobra]

No power, don't know when it comes back, may not able to update today...

[JFR]

ES daily.

Pushing hard at the top of the range.

Wednesday's bar was a hammer. Upward momentum, which of course can change in a flash, especially as we are pre-open.

[JFR]

ES 60 minutes.

Strong move up, through S1, through the Pivot, all the way to R1.

[JFR]

Source:
https://www.marketwatch.com/livecoverag ... =home-page

None of the following is my opinion, as the article connects some dots, and suggests some possible paths for the economy. It is sourced material, of interest to me.

I am going to be away from the keyboard a lot today.

The economy grew at a sturdy 2.9% annual pace in the fourth quarter, but the U.S. faces tough odds to repeat its performance in 2023 as rising interest rates sap growth and threaten to foment a recession.

Gross domestic product, the official scorecard for the economy, expanded at an above-normal rate for the second quarter in a row. GDP also increased 3.2% in the third quarter following a pair of negative readings in the first half of 2022.

Yet the economy appears to be entering a more turbulent span after the Federal Reserve ratcheted up a key U.S. interest rate to a 15-year high in an effort to tame the worst inflation in 40 years.

Higher borrowing costs slow inflation by reducing consumer spending and business investment. But rising rates also puncture the economy and often lead to recession.

Wall Street economists predict the U.S. will slow to a crawl in the first quarter — and barely grow at all this year. Some even think the U.S. is already in recession.

[merryme]

Sold my LONG finally. Happy with my profit. I'll reassess over the weekend. Best to everyone.

[Al_Dente]

10:00 New Home Sales
11:00 Kansas City Fed Mfg Survey
4:30 PM Fed Balance Sheet

[Cobra]

Members only update at 10:18 am
http://www.cobrasmarketview.com/2023/01 ... ay-update/

[Cobra]

It's a morning hourly filled black bar.

[Cobra]

Breakdown here would be a down trend day. I'll pass though because it'd fall in the yesterday's range which means support every step down. The rule still is always guess up so likely a rebound here instead of a breakdown.

[Al_Dente]

1/26
"Smartphone shipments plunge to a low not seen since 2013 — their largest ever decline
https://www.cnbc.com/2023/01/26/apple-r ... 3-low.html

[Al_Dente]

10:00 New Home Sales
New Home Sales at 616,000 Annual Rate in December; Annual Sales down 16.4% in 2022

[jademann]

starting to enter into SPXU

[JFR]

JXN.

I posted this stock here on Tuesday. It is still running strong.

Not recommending.

[Cobra]

Members only update at 12:25 pm
http://www.cobrasmarketview.com/2023/01 ... ay-update/

[Cobra]

Breakout is more likely now.

[BullBear52x]

How overbought are we? very overbought but no reversal to call out to. intraday is range day, the close will tell, a doji or a hanging man will be bearish bias other than that bulls are looking good.

[Al_Dente]

Note BZFD
(on news)

[BullBear52x]

Need to close below the open to have a bearish reversal. this is the area of FOMO feeling at its highest, be careful.

[BullBear52x]

Note BZFD
(on news)

Stock are cheap for the reason

What happen to the hot news each quarter pump on BBBY?