1/31 Wednesday Trading Plan

spytradingpro의

📊 Market Sentiment: Neutral to Bearish

Concerns Ahead of FOMC Meeting: Impact of Federal Reserve's decisions on market stability.
Cigna's Strategic Move: Effects of consolidation in the healthcare insurance industry.
Retreat of Tech Stocks: Market anticipation of the Federal Reserve's interest rate decision.

📝 Today's Recap:

U.S. Economy's Growth: Strong GDP growth defying recession fears.
China's Economic Struggles: Financial challenges and government control over economic commentary.
Market Movements and Corporate Earnings: Insights into tech companies' performance and stock market dynamics.

🌍 Global Financial and Economic News:

Fed's Interest Rate Policy: Anticipation of the Fed's decision on interest rates.
Earnings Reports: Evaluating the impact of tech giants' earnings on market sentiment.
Economic Data Reports: Review of GDP, housing, inflation, and other key economic indicators.

📉 Support Levels to Watch:

4944-42 (Major), 4936 (Major), 4932
4926 (Major), 4920, 4911-13 (Major)

📈 Resistance Levels to Watch:

4954 (Major), 4957, 4962-64 (Major)
4971, 4978 (Major), 4984

📅 Trading Plan for Wednesday:

Approach for FOMC Day: Expect volatility; be prepared for rapid changes.
Bull Case: Focus on maintaining support above key levels like 4935.
Bear Case: Monitor for breakdowns below support levels indicating market shifts.
Strategy: Evaluate supports and resistances, adapting to FOMC outcomes and market reactions.

🛑 Disclaimer: This analysis is for educational purposes only and is not financial advice. Consult a professional financial advisor for trading decisions.