1/30/23 AmEx, Tesla & The Fed—A Busy Week


Welcome to the final trading days of January.

On Friday, markets opened near flat and chopped around during the morning session.

Charts from Finviz

By mid-afternoon, stocks were mostly higher but faded in the final hour of trading. The bulls held on to claim victory before heading into the weekend.

  • Dow Jones +0.1%
  • Nasdaq +0-9%
  • S&P 500 +0.2%
  • Russell 2000 +0.4%

Once again, the Nasdaq led. The star of the day was Tesla (TSLA^) again, which surged another 11% after announcing solid earnings on Wednesday.

Bears made a showing. 53% of stock finished higher. 43% declined.

Sector Round Up

The sectors were split. Of the 11 sectors, 5 ended the day higher, 4 lower, and 2 flat.

At the top…

  • Consumer Discretionary (XLY) +2.3%
  • Real Estate (XLRE) +0.9%
  • Communications (XLC) +0.7%

At the bottom…

  • Energy (XLE) -2.0%
  • Healthcare (XLV) -0.7%

Notable Names

Shares of American Express (AXP) surged 11% on Friday after reporting blow-out earnings.

Image from American Express
  • The company’s revenue increased 17% year-over-year
  • Shareholders will see a 15% increase in dividend payout
  • Management projected another 17% revenue growth over the next year
  • During the call, the CEO said, Our ”premium customer base … right now, is spending”

Bitcoin’s^ rally continued over the weekend. It peaked at $23,900 Sunday afternoon. That’s an increase of 53% from November’s low.

  • If you’re interested in starting your own recurring Bitcoin investment safely, click here.


A lower VIX favors the bulls. And the VIX made a new 52-week low on Friday.

VIX Daily Candles – Chart via thinkorswim

Greed is driving the market right now. Buyers are firmly in control.

We are watching for a short-term slowdown. But right now, there’s no sign of one coming…


We’ve got a busy week in store.. 

Here are the highlights…

Wednesday afternoon, The Fed will announce the latest interest rate. 

  • The market wants to see a 0.25% increase, no more

Thursday, after the closing bell, a slew of big tech earnings drop simultaneously.

Here are the names we’ll be watching…

  • Amazon (AMZN)
  • Apple (AAPL)
  • Alphabet (GOOG, GOOGL)

On Friday, the latest jobs report comes out premarket.

The January Barometer remains positive…

  • At writing, the S&P 500 is up 6.0% since January 1.


*Low Float
^Open Position

*CUEN support at $1
*APXC on watch
*BWEN support at $5, resistance at $6
SY on watch
^AEHR support at $30
CABA resistance at $12
BOOT support at $76
SDRL support at $41
LX support at $3.25, resistance at $3.50
PTGX support at $13
TBBK support at $32
APLD support at $2
^CROX support at $120
BZFD on watch
CBAY support at $7
TOUR support at $2.50
SUMO on watch
TGTX support at $14
WB support at $22.40
AMLI support at $3.30
TUYA support at $2.75

Leave a Comment

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