Market Analysis And Market Outlook of the Week of 01/06/25

قبل ٦ أيام

Saturday: End of the Week Analysis

The Week ended Red;
with a range of 735 +- points.

Monday's Open continued to bring price down through Thursday; Friday being the only Green day.
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Overall Weekly bias:
- Price reached a major level of support at 20,800 +- and is currently moving up.
- With enough momentum the next area being targeted is 21,800 +- .

Daily Bias:
- Further confirms Weekly bias and support zone along with price targeting 21,800 +- .
- A higher low has been created which indicated a reversing market or the beginning of consolidation.
- Directional confirmation is needed by taking out has High or making a Lower Low.


1 Hour Bias:
- The 1 hour shows a trend change from short to longs.
- Taking out last lower high, a retracement is anticipated at this level to last support.

5 Minute Bias:
- Looks bullish with price currently retracing to last support.
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Considerations:
- Presidential inauguration, 01/20
- Earnings Reports, 01/20
- Red Folder News, 01/07 till *ongoing.
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Market Anticipated Performance:
- The Markets will Range till after the Inauguration and after earnings report.
- My bias is a range of 1,300 +- points , from 20,800 +- to 22,100.


How to Trade for Week of 01/06:
- I am looking for price to retrace on the 1hour, 100 - 200 point +-
- Then Looking to enter long as price targets 21,800
- Zone to Zone and pattern trading till 01/20