ES = S&P 500 E-Mini Futures Price lines to watch
Week of 26 JAN Futures off to drag... Pretty significant drop to open things up.
Lets work inside out...
1) A crack of $3255 could give immediate flows to further downside
2) I assume the price action will backfill the gap going into a week of earning postings with the big tech companies and more (APPL, FB, AMZN, etc). Depending of outcome again assuming positive, this could push the price action up to $3310 or with AMZN posting Thursday potentially near All Time Highs (ATHs) $3340.
3) If the week tops out at 3310, after closing the gap in the next two trading days and earnings pushing the price further up to 3310, assume that will open the door to 3220.
4) If the week tops at 3340, look for a drop back to the current low of tonight
Expect $SPY to follow suits
These are not prediction but rather ideas to watch. GOOGL is the last of the FAANG stocks to post earnings until Netflix in March 2020.
Lets work inside out...
1) A crack of $3255 could give immediate flows to further downside
2) I assume the price action will backfill the gap going into a week of earning postings with the big tech companies and more (APPL, FB, AMZN, etc). Depending of outcome again assuming positive, this could push the price action up to $3310 or with AMZN posting Thursday potentially near All Time Highs (ATHs) $3340.
3) If the week tops out at 3310, after closing the gap in the next two trading days and earnings pushing the price further up to 3310, assume that will open the door to 3220.
4) If the week tops at 3340, look for a drop back to the current low of tonight
Expect $SPY to follow suits
These are not prediction but rather ideas to watch. GOOGL is the last of the FAANG stocks to post earnings until Netflix in March 2020.
