After nothing but chop, markets have suddenly turned optimistic this week.
We’ve seen strong earnings from major banks, cooling inflation figures, and a new administration ready to take off on Monday. Each of those events could provide a bounce on their own, and it looks like they’ve all come together for what’s shaping up to be another bullish day.
We’re also seeing the return of tech.
Apple (AAPL), after suffering its worst loss since August earlier in the week, is edging higher. Micron (MU) and Nvidia (NVDA) are also positive, driven by renewed optimism in semiconductor demand.
Last, crypto-related stocks are also seeing a surge as Bitcoin continues its unprecedented push above $100,000, topping $104k this morning. Coinbase (COIN) is benefiting from the rise, rallying on the back of increased trading volumes and positive sentiment around digital assets.
That said, this might be the most important slide from my presentation Thursday — be sure to tune in at 10 a.m. ET each week for tons of actionable info and trade ideas!
This is my prediction for the rest of January and then going into February…
I think we’ll see a strong close to end the month, and then the market will sell off.
So stay nimble and stay tuned!
My Apex Indicator META Signal
We’ve seen several examples of uncertainty on our Apex charts recently, and this week is no different.
Most stocks are still consolidating in sideways channels, getting ready to print new blue arrow entry signals.
Of all the ones I looked at, META still looks like the best of the bunch. It faltered this week when the market fell, but it immediately bounced back.
Here’s the chart:
After the drop and recovery this week, we’re nearly back to where we were in December. That was our last entry signal.
If we get another bump after Monday’s inauguration, META might soar and we could see another blue arrow.
If we get that entry, the target would still be up at $667.43, and the stop loss at $499.02.
The market has seen a lot of bearishness so far this year.
But that could change very soon!
Graham Lindman
Graham Lindman Trading
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*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
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