1/25/23 Your January Friend


Markets treaded water on Tuesday. Most of the price action was sideways.

The major indexes closed mixed and little changed.

  • Dow Jones +0.3%
  • Nasdaq -0.3%
  • S&P 500 -0.1%
  • Russell 2000 -0.3%

Near the opening bell, the NYSE experienced a major glitch that caused a host of “erroneous” trades.

It’s being called a “technical issue.”

Image from Illustration Source

Bulls paused their run to catch their breath. 

Selling was limited.

Fear was non-existent.

Sector Round Up

6 of the 11 sectors closed the day green.

At the top…

  • Industrials (XLI) +0.7%
  • Utilities (XLU) +0.5%

At the bottom…

  • Healthcare (XLV) -0.7%
  • Energy (XLE) -0.4%

No sector gained or lost more than 0.75% on the day.


The VIX continues to trend lower.

It’s well below every critical level we’ve called out and continues to move near 52-week lows.

VIX Daily Candles – Chart via thinkorswim

Simply put, the bulls are in control, and the market shows no signs of fear.

The bears did get a little aggressive yesterday…


With just five trading days remaining in January, we are closely monitoring the S&P 500’s monthly performance.

Per the Stock Trader’s Almanac, as goes January, so goes the year.

And 72% of the time, the market follows January’s direction.

So far this year…

  • The Santa rally delivered positive results
  • The early warning failed to trigger

A green end to the month will finish out the bullish trifecta. And give the market an 87% chance of finishing the year with gains.

At writing, the S&P 500 is up 4.6% since January 1.


*Low Float
^Open Position

*APXC support at $3
*BWEN support at $5, resistance at $6
BYSI support at $2.50
SY on watch
VERA support at $8
^AEHR support at $30
SDRL resistance at $41
DPRO on watch
FLNC support at $22.50
LX support at $3.25, resistance at $3.50
PTGX support at $12
ZYME support at $9, resistance at $10
^CROX support at $120
AQMS support at $1.20, resistance at $1.60
CBAY support at $7
TOUR resistance at $2.50
SUMO on watch
TGTX support at $14
ARDX support at $3
AMLI support at $3.30

Leave a Comment

Your email address will not be published. Required fields are marked *