1/22 Cautiously Bullish. 750 Buying | 250 Selling.
% Stocks Over 50SMA is Bearish. Primary Indicator is Neutral. 20% Weekly is Bullish – Caution.
The market rebounded solidly after policy relief comments and geopolitical updates, reclaiming about half of the prior session’s losses despite intraday volatility. Semiconductor and energy sectors led gains, while tech showed choppy but positive momentum late in the day. Natural gas surged, supporting energy stocks, and health care showed resilience amid mixed biotech momentum.
Semiconductors and industrials exhibited selective late-session strength with high-of-day closes in WDC, AMD, and DE signaling continuation potential. Biotech momentum pockets like ANNX and IRWD also offer swing setups. Crypto proxies remain weak, suggesting caution there. Energy and materials held steady with energy leading gains. Volatility (VXX) remains elevated, underscoring ongoing caution.
Tomorrow brings key inflation data with the PCE Price Index and more earnings reports, which could steer near-term direction.
Key Takeaway:
Focus on swing setups in semiconductors and industrials showing late-session accumulation and follow-through potential, such as AMD, WDC, and DE. Manage risk tightly in biotech due to headline sensitivity and avoid crypto-related momentum plays until stability returns. Watch key support levels as intraday volatility persists, and be prepared for market reactions to inflation data and earnings catalysts.
Watchlist
Continuation: AMD (S1: 249, S2: 248.5, S3: 247, R1: 251.5, R2: 253, R3: 255)
Anticipation: IBRX (S1: 6.9, S2: 6.7, S3: 6.3, R1: 7.1, R2: 7.3, R3: 7.6)