The S&P 500 finally tagged that
BIG ROUND NUMBER of 7000 that I have been touting as a
target/magnet for a long time, that was hit right on the open for
the cash market, which ended up being a high for the
market.
The Fed has spoken. Rates were kept
the same, and the market took the news in stride. Wall Street was
quiet heading into the news, and other than slight volatility
after, you wouldn't know anything of significance took place.
More important was MSFT, META and TSLA earnings after the
close. Obviously everyone is aware of Trump's disapproval of
Powell. Trump wants rates lower, but I think Powell should keep
rates higher for longer, especially with the market being at an
all-time high. I'd rather have higher rates than risk a second
surge inflation.
META trading up after hrs, while
MSFT trading down, and TSLA slightly up.
Some concerns and things to watch:
- The VIX is now uncorrelated to the
S&P 500, and sometimes you can get market inflection points
when this happens so take note.
- Also, I'm seeing a negative
divergence via HYG high yield corporate bonds vs SPX from my 60 min
chart.
- 10-Year Yield is attempting to
find support at the broken resistance line I've been
showing.
US Dollar Dumping Hard, which has cratered over the last
week finally had a small bounce today.
Precious Metals and other metals: the flight to
safety, hard assess, and ill liquidity of the precious metals
market vs derivatives, and herd mania continue to push these areas
to extreme. Gold futures are trading over $5500 for example!
Market News Items: Initial Claims, PPI, Core PPI,
Chicago PMI
Matt, THANKS for posting the summary early. It is very
helpful! Since you are riding solo these days, shorter daily
summaries would totally make sense. Thanks for all that you
do. I LOVE this service and have benefitted greatly over the
past year, largely because of you and your awesome calls!
Kudos and much appreciation!
write up for newsletter
Posted by matt on 28th of Jan 2026 at 07:06 pm
The S&P 500 finally tagged that BIG ROUND NUMBER of 7000 that I have been touting as a target/magnet for a long time, that was hit right on the open for the cash market, which ended up being a high for the market.
The Fed has spoken. Rates were kept the same, and the market took the news in stride. Wall Street was quiet heading into the news, and other than slight volatility after, you wouldn't know anything of significance took place. More important was MSFT, META and TSLA earnings after the close. Obviously everyone is aware of Trump's disapproval of Powell. Trump wants rates lower, but I think Powell should keep rates higher for longer, especially with the market being at an all-time high. I'd rather have higher rates than risk a second surge inflation.
META trading up after hrs, while MSFT trading down, and TSLA slightly up.
Some concerns and things to watch:
- The VIX is now uncorrelated to the S&P 500, and sometimes you can get market inflection points when this happens so take note.
- Also, I'm seeing a negative divergence via HYG high yield corporate bonds vs SPX from my 60 min chart.
- 10-Year Yield is attempting to find support at the broken resistance line I've been showing.
US Dollar Dumping Hard, which has cratered over the last week finally had a small bounce today.
Precious Metals and other metals: the flight to safety, hard assess, and ill liquidity of the precious metals market vs derivatives, and herd mania continue to push these areas to extreme. Gold futures are trading over $5500 for example!
Market News Items: Initial Claims, PPI, Core PPI, Chicago PMI
Matt, THANKS for posting the
Posted by bpt_ken on 28th of Jan 2026 at 07:40 pm
Matt, THANKS for posting the summary early. It is very helpful! Since you are riding solo these days, shorter daily summaries would totally make sense. Thanks for all that you do. I LOVE this service and have benefitted greatly over the past year, largely because of you and your awesome calls! Kudos and much appreciation!
Ken
thank you Ken! but all
Posted by matt on 28th of Jan 2026 at 07:56 pm
thank you Ken! but all credit goes to you for taking our ideas and executing them!
Thanks, Matt! Teamwork!
Posted by bpt_ken on 28th of Jan 2026 at 07:57 pm
Thanks, Matt! Teamwork!