Per the Stock Trader’s Almanac, “As January goes, so goes the year.”
The S&P 500 ended January 2021 down about 1%.
When January ends flat or in the red half the time the S&P 500 ends up red on the year. The overall trend of the market is up and most years end in the green. I’ll share the graphic in my live stream today.
Futures are up this morning after last week’s 4% decline. Plenty of individual stocks are still in play so I’ve got lots of great opportunities.
The WallStreetBets is still bringing plenty of drama to the markets. I’ll have an eye on it but I’m not likely to trade any of those stocks until the charts improve.
I’m bearish. Be safe out there.
*ICON is on watch
*NM has support at $4
*USIO has support at $3.50
*FEDU has resistance at $1.50
*DTEA has support at $3.15
*ONCS has support at $7.40
*ADMS is on watch
BRQS watching for a setup above $1.60
PHUN has support at $3
TOPS watching for a setup above $2.20
CTSO has support at $10
NESR has resistance at $11
DBD has resistance at $14
VXRT is on watch
TTI has resistance at $1.60