📊 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.
ESes_fESH2024futuresjanuary2024SPX (S&P 500 Index)SPDR S&P 500 ETF (SPY) Support and ResistancetradingviewTrend AnalysisTrend Lines

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