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If you zoom out and look at the S&P 500 (SPX) chart, we’ve been stuck in a range here at the top since September after recovering from the drop in August. Without a solid breakout, getting bullish here could be late. Come join me as we dive in and see what’s moving! Plus, as always, we have stocks popping and dropping so come find out what is moving this morning as I look for stocks and do some live premarket analysis on SPX, SPY, NDX, QQQ, Russell, IWM and other stocks that are potential plays for the day. — — — There’s a Showdown Brewing Between Fed Chair Powell and Trump There’s a showdown brewing, and next week promises to bring fireworks, with the Federal Open Market Committee (FOMC) meeting looming large on the calendar. But this time, it’s not just about rate decisions or economic projections. It’s shaping up to be a showdown between Fed Chair Jerome Powell and President Donald Trump — a classic power struggle to see who can flex more influence over the markets. Trump has a knack for shaking things up. When he was last in office, his tweets alone could send the markets into a frenzy. Now, as he takes the stage at the World Economic Forum, traders are bracing for more volatility. Powell, on the other hand, has his own agenda. The Fed’s recent actions suggest he’s determined to maintain control — regardless of any external noise. And make no mistake — this sets the stage for a battle of wills. The question is, how will markets react? Markets in the Middle The S&P 500 has been marching steadily higher, reaching key technical levels that suggest more upside could be in store. But here’s the catch… Markets have a knack for building up to big events like the FOMC meeting — only to sell off violently when the news drops — in classic “sell the news” fashion. Look at S&P 500 Futures (ES)... While they’re targeting higher zones, there’s a real possibility we see a pullback before any continuation. That’s especially true if Trump’s comments inject unexpected volatility, or if Powell’s message on rate hikes rattles sentiment. It’s a perfect storm — Powell’s methodical messaging versus Trump’s unpredictability. Key Levels to Watch Tesla (TSLA) and other high-beta names have earnings coming up, and they’re likely to be affected by any sudden market shifts. At the same time, the Health Care sector, which has been under pressure lately, may struggle further if rates stay higher for longer. And let’s not forget the Nasdaq 100 (QQQ) — a favorite for traders during volatile events — which could see exaggerated moves in either direction. Volatility is the name of the game right now. While Powell holds the official reins, Trump’s words have proven they can ignite reactions. Add in technical levels on major indices, and it’s clear this week won’t be dull. Stay sharp. Be patient. And remember, the market loves to frustrate the largest number of traders possible. Today’s Daily Chart Setup: Trex (TREX) This idea came directly from my Daily Chart Setup that automatically signals potential plays.
This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. Always remember that past performance is not indicative of future results. There’s also more information down below on how the Daily Chart Setup works. Now be sure to join me live at 9:15 a.m. ET for “Morning Monster,” my market-open livestream on YouTube! This May Sound Crazy But… I’m Known for Making Big, Bold Predictions — That Often Come True While everyone's been obsessing over Bitcoin lately, I've discovered something that could leave it in the dust... A crypto that my analysis shows could outperform Bitcoin by 53X in 2025. And I'm sharing all my research on it at 2 p.m. ET today, Jan. 24 — for free! But that's not even the best part... I'm also revealing an end-of-month setup in Bitcoin that could have us targeting a quick 100% return in the next eight days or less. Yeah, you read that right. If everything works out, that's a double-up play wrapped up in just a week. Sounds bold but you’ll see why I’m this confident when you jump into the Zoom room. As you know, I cannot promise future returns or against losses. But if you’d like to join me for the double-up play on Bitcoin and also get the analysis on my No. 1 crypto right now. How the Daily Chart Setup Works Here’s a more detailed description of how the pattern triggers: 1. The price breaks upward through the orange Market Roadmap Line. 2. Then the price goes up and down while staying above the line. Eventually, it comes down to touch the line again — this could take days, weeks or even months. 3. Once it touches the line and starts moving back up, that signals an entry. I use Fibonacci levels for for profit targets and stop losses, and these two tools combined have helped me achieve a 77% win rate over the past six-plus years! You can grab my Market Roadmap Indicator here for just $5 — less than a cup of coffee at most places! Jeffry Turnmire Jeffry Turnmire Trading I host my “Morning Monster” livestream at 9:15 a.m. ET each weekday on YouTube, and then “30 Minutes of Awesome” at 5 p.m. ET each Tuesday! Please check out my channel and hit that Subscribe button! I’m just a regular dude in Knoxville, Tennessee: a husband, father, civil engineer, urban farmer, maker and trader. I've been at this trading thing with real money for 20-plus years, and started paper trading over 35 years ago. I have a knack for making some epic predictions that just may very well come true. Why share them? Because I like helping other people — it's the Eagle Scout in me. *This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. |
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