Market analysis for Jan. 25th, 2024

Yesterday was a tough one for us with our QQQ and NVDA trades giving us fits. We've restructured both setups and hopefully we can get some good cash flow with out QQQ trade today.

Markets are still bullish 

There's an interesting rotation happening currently. While the Nasdaq is still leading the charge, small-cap stocks are starting to join in. The IWM an the QQQ are both up more that 19% of the past three months. This is a huge differentail compared to the 55% for QQQ and 17% for IWM last year. 

Futures are flat as I type this. Market is awaiting key U.S. GDP data and Tesla earnings from yesterday are weighing on the indicies. Our TSLA trade looks like it should be a full profit capture today. 

GDP and Jobless claims are the news catalysts for today:

Two days now into this bull market where we ended with doji candles. It the bull running out of steam? 

Intra-day levels for me today: 4905/4916/4923/4933*(high of yesterday)/4944 to the upside. 4899/4888/4879/4863 to the downside.