1/31 Wednesday Trading Plan

31 Jan

📊 Market Sentiment: Neutral to Bearish

• Concerns Ahead of FOMC Meeting: Impact of Federal Reserve's decisions on market stability.
  
• Cigna's Strategic Move: Effects of consolidation in the healthcare insurance industry.
  
• Retreat of Tech Stocks: Market anticipation of the Federal Reserve's interest rate decision.
  

📝 Today's Recap:

• U.S. Economy's Growth: Strong GDP growth defying recession fears.
  
• China's Economic Struggles: Financial challenges and government control over economic commentary.
  
• Market Movements and Corporate Earnings: Insights into tech companies' performance and stock market dynamics.
  

🌍 Global Financial and Economic News:

• Fed's Interest Rate Policy: Anticipation of the Fed's decision on interest rates.
  
• Earnings Reports: Evaluating the impact of tech giants' earnings on market sentiment.
  
• Economic Data Reports: Review of GDP, housing, inflation, and other key economic indicators.
  

📉 Support Levels to Watch:

• 4944-42 (Major), 4936 (Major), 4932
  
• 4926 (Major), 4920, 4911-13 (Major)
  

📈 Resistance Levels to Watch:

• 4954 (Major), 4957, 4962-64 (Major)
  
• 4971, 4978 (Major), 4984
  

📅 Trading Plan for Wednesday:

• Approach for FOMC Day: Expect volatility; be prepared for rapid changes.
  
• Bull Case: Focus on maintaining support above key levels like 4935.
  
• Bear Case: Monitor for breakdowns below support levels indicating market shifts.
  
• Strategy: Evaluate supports and resistances, adapting to FOMC outcomes and market reactions.
  

🛑 Disclaimer: This analysis is for educational purposes only and is not financial advice. Consult a professional financial advisor for trading decisions.