Market analysis for Jan. 19th, 2024

It was a messy day for us yesterday. Several hotspots but having a model portfolio and diversified strategies paid off for us. My net liq ended up $780 on the day. I was up 2k but we ended up rolling our SPX call side and gave some back. Scalping was awesome and really helped our net liq and the NDX 0DTE hit max profit target.

​We are right on track with our scalping goals this year of $50,000 of income from $3,500 of capital. If you aren't scalping with us come check it out. 

Live Scalping

The slight sell signals we got yesterday lasted a few hours. We are now back to buy mode. 

This is getting a little deja vue but its ground hog day once again. Another day, another non directional day. We are now over a month of just treading water.

It was a risk on day yesterday with mega cap techs strong and leading the charge with energy and utilites being the losers. 

News catalysts for today.

If you look at the 2 hr. chart you'll see we are at a very critical level for bulls. This is a resistance level that we've been working on for quite some time. A substantive push above with a strong close on the day could be whats needed to unleash another bullish run. Conversly, the longer we take to try to break out of this resistance area, the stronger the resistance becomes and the more ammo the bears have. 

Intra day levels for me: 4842* (key level for bulls to clear)/4859/4878/4901 to the upside. 4822/4816/4800/4789 to the downside.