Welcome everyone to the Market Intelligence Report brought to you by WealthBuildersHQ.com. This update is for Monday, January 30th, 2023. My name is Robert Roy. Let’s go ahead and dive right in.
So what a week it was, huh? 1, 2, 3, 4, 5, all five days. White candles, bullish moves every single day pushing up and testing that number. I wanna see his break above which is that recent swing high that we’ve had. Let’s go look first at the VIX and then we’ll jump back in on the S & P and see exactly what’s going on with the SPX and what we need to be looking for. So we are on the very low edge of our green zone right now. We’re sitting at $18.51. 18 is the low end of our green edge. We’re still in the medium or a moderate range, which is a good range. If you are a combo buyer and seller, if you’re looking at just buying you on a much lower range, ideally you’ve got a 10 or a 15 range. If you are a seller, I don’t really like getting up in the red. It gets a little too volatile up there, but up in that 25, 28 range as a seller is awesome. So where are we right now? If you’re a combo trader, you are in a the right place at the right time. You just gotta check premiums on selling positions to make sure that they’re not undervalued in what you’re getting for that premium.
So if we go back to the S & P 500, let’s go dig into the chart a little bit. So once again, if we just bring this down from a viewability standpoint of long-term bearish pattern with short-term bullish moves inside this breakout right in here was the first breakout of that downtrend line. That’s what brought us actually into the most recent swing high, was right there. We failed off of that. We did not make the move all the way back to the bottom line. Then we did put a bottom in at 3764.49. Wonderful. We broke up. We failed again. We broke out. Never got a real retest of that downtrend line, but we did break out with the nice continuation. My thought was we had to get above the 4025. That was our first resistance point. Thursday, we blew above it after Monday, Tuesday, Wednesday, bumping our head on ugly, right? What’s ugly? The ceiling. The line is ugly, right? We push up and we push right into the 40 71 52 level. That’s line two. We haven’t broke it on a close. We didn’t break it intra today, but we haven’t broke it on a close yet, right? But what I’m really looking for is a close above that 4101.96 cents. So 4101, close above, retest, bounce, then I’m looking at potentially adding some swing trades into the mix at that point, as long as we can maintain and keep that bullish bias going, right? Overall bias on the S&P 500, all three lines are in the right order. Pink is on the top, green is in the middle, red is on the bottom. We have a true bullish bias right now. Lots of excitement going on.
This upcoming week is a huge week in earnings. Let’s see, I know we’ve got three majors on the second. It is Apple, Amazon, and Google. All three of them are coming up on the second right? So this week is gonna tell a lot of tail as to how tech some of the big ones are doing out there right now. They’re the ones that seen ’em get hammered the most. Tesla destroyed things last week, which was a big bolster in the market. Big bolster for s and p, huge moves on the market. The Nasdaq moved wonderful the day they announced Tesla was doing fantastic along the way, right? But watch that 4101 level. 4101, yep. 4101 level. That’s the key, the critical level right here, folks, do not take your eyes off of that. Get above the 40 71. Get above the 4,100. Those are the two key levels. Pullback, retest, and bounce off that 4,100 level. Then we’re looking for the move up. And remember, you’ve got -618 up here at 4170, and then 4181 is that major fib line in there. All right? So we’ve been above it now more than one time. We had gotten above that line, right? We spent a good amount of time up there, and then we broke above here. But ever since this fail and our continued breakout attempts at this down trend line, we have not been able with the breakout attempts to get above that 4181. So there’ll be some critical things taking place over the next couple days and weeks on setting up. Of course, keep your eyes on the news and see where that takes us. All right? Make it a profitable day. Stay focused on the quest of becoming a great trader. Keep crushing it and remember you just one trade away. I will see all of you at our next update. Take care, folks. I will see you then. Bye for now.
Stay In Touch
We hate spam as much as you do. We promise never to spam you and only send you emails filled with tons of value. Jump on our mailing list to stay up to date with our newest content, receive special offers, and stay connected!