Monday Market Update

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Good evening everyone, Andy Moss here, TradingAdventures.com with your Monday Market Update, a brief video review of today's price action. Over the weekend, in both the weekly chart thread and the weekend market update sent to premium subscribers, we were looking for the potential for prices to dip lower early this week. Today, that's exactly what we're getting.

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all four of the major stock indices gapped lower at the open this morning before really rallying pretty strongly into the close so let's take a look at the price action and see what happened and where we might go from here. Looking at SPX we've been watching this sequence of lower lows and lower highs play

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out for a couple weeks now and you can see this here and that's kind of had us on the lookout for the possibility of continuation lower. And so over the weekend, in the weekly chart thread, we were looking at the possibility of SPX tagging that August low anchored VWAP. And even in the weekend market update,

Monday Market Update

$SPX Gets The AVWAP Bounce - What Active Traders Need To Watch For Through PPI, CPI, Earnings, And Inauguration

Andrew Moss, CMT

Jan 14, 2025

Transcript

Market Overview

Stock indices gapped lower but rallied into close, with 3 out of 4 finishing green
Performance: SPY +0.16%, IWM +0.19%, QQQ -0.32%, DIA +0.87%
Bitcoin is trading at $94,200, up from $89,000, showing resilience at support levels

Key Events

PPI data release tomorrow
CPI data on Wednesday
Bank earnings on Wednesday
Inauguration Day next week

Technical Analysis

SPY resistance level around 587, with multiple technical factors converging there
QQQ resistance at 513 (8-day and 50-day moving averages) and 517 (anchored VWAP)
The dollar showing continued strength, acting as a headwind for stocks

Notable Stock Movements

Apple showed strength after testing August pivot low VWAP
Palantir (PLTR) closed at $64.98, showing strength in after-hours trading
Nike showing potential reversal after 6 days of decline

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The Disclosures

***This is NOT financial advice. This is NOT a recommendation to buy, sell, or trade any security. The content presented here is intended for educational purposes only.