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 Inner Circle
The Inner Circle is a Virtual Trading Floor (VTF) at T3 Live. It’s the group I’ve been working and trading with since 2022. You may have noticed the logo in the watermarks on my charts.
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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.
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