Trade Plan for 1/19-1/23

Are the bulls losing steam or is this just necessary rotation?

Last week gave us mixed signals with $RTY/small caps futures outperforming once again, $ES/SPX futures taking a step back, but holding a previous breakout and $NQ/Nasdaq futures looking a bit shaky on the close. With lots of news blasts, it’s important to keep an open mind and focus on reliable levels. I kept bias to a minimum, using my levels for directionality. Both weekly and daily levels were fantastic as resistance and support. After many requests, I have decided to keep my hourly charts up 23/5 with weekly and daily levels denoted and any structural formations drawn on. I will still be giving commentary and sharing bias during the RTH session.

I was neutral for precious metals and kept trades to scalps. $SI/Silver futures has yet to hit my daily resistance, but it is getting close.

I scalped $CL/crude oil futures both ways last week. It settled just under what would have been a weekly breakout, but if it opens flat, it will be slightly above. For bulls, it’s all about holding there and avoiding the dreaded fakey breaky. 👀

Summary of Market Action Last Week:

· Both $ES and $NQ declined slightly last week as we saw dips get bought midweek. $RTY/small caps futures outperformed once again.

· $GDX/Gold miners rallied to new highs again and the metals surged higher, but spent the last part of the week in consolidation mode for another move.

· $CL/Crude Oil futures closed marginally green, while $XOP/oil equities showed relative strength in chop mode.

Here’s how last week closed out (includes a futures contract roll to the upside):

For the week ahead (1/19 – 1/23/26)