ES Weekly Market Insights Recap: January 27th Edition
Welcome to another weekly overview where we provide you with key levels to enter and target
Hello fellow traders. Welcome to another weekly overview of the ES/SPX/SPY market.
As a reminder we have officially partnered with Volland - available at https://vol.land - providing our weekly and daily ES/SPX analysis to subscribers there.
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1/27 - Weekly Recap:
A really good recap and analysis of last week's move where we called for risk above 6122es and support at 5932es. Between the lows and highs of ES we provided a 175pt move in last week's trade plan. Let's dig into some of those details...
From our trade plan last week…
* IF bulls do not take back 6090.50 and then 6122es we need to consider rips to sell and longer term swings need to get above these levels again if you want to play it safe going long
* IF 6032-6025es breaks this will continue to chase that 5989es weekly point of control and test that low volume node at 5970-5907es. 5932es in this zone is the level to watch that will trigger a major shift in the markets and a more bearish tone...
Looking at all expirations 5950-5955spx is going to be a key area of interest and aligns with last week's low and near our key ES level from the past 2 weeks which is 5989es. 5900 is the most important level to the downside but prior to that 5950 is next most critical level.
It was in futures action Sunday night into Monday morning where the market and tech sold off majorly on the news of Deepseek and its implications on the larger AI and chip/data center industry. Anything and everything touching AI took a beat down into this day. Yet levels are levels and we came within ear shots of the key 5900spx level that we called out in last week's plan as the most important level to the downside and a great buy the dip opportunity.
For those unable to enter in futures action the open on Monday provided a great opportunity for us to enter long and we did that riding those longs into Tuesday as we entered the 6075 level.
We then called the additional risk above 6100spx and to be wary of trades above this level going into the FOMC and provided guidance that 6025 and a failed breakdown of this level would be ideal to long with a neutral/dovish FED.
Market Moves with Volland
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We will go through this upcoming week’s dealer positions, key levels, and how we plan to trade the week.
Biggest News Catalysts on the Week
Mon - EU CPI, US Manufacturing PMI & Prices, FED Speakers
Tue - US Jolts Job Openings, FED Speakers
Wed - US ADP Non-Farm Employment Change, US Services PMI, FED Speakers
Thur - UK Monetary Policy, US Unemployment Claims, FED Speakers
Fri - US Non-Farm Employment Change, US Employment Rate, US Avg Hourly Earnings m/m, Consumer Sentiment & Inflation Expectations, FED Speaker
Source:
Earnings
Earnings season continues this week with the likes of PLTR, PYPL, SPOT, AMD, GOOGL, CMG, UBER, DIS, QCOM, F, AMZN reporting.
Weekly Options Expected Move
SPX’s weekly option expected move is ~104.07 points. That puts us at 6144.60 to the upside and 5936.46 to the downside.
Remember over 68% of the time price will resolve it self in this range by weeks end.
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Disclaimer:
The stock market is risky, gains are not guaranteed. This is not about getting rich quick, but learn to educate yourself and make the necessary financial decisions on your own. This is not financial advice.