2/1 Thursday Trading Plan📊 Market Sentiment: Bearish
Federal Reserve's Rate Decision: The Fed's decision to maintain interest rates influences market expectations and strategies.
Economic Slowdown Concerns: Predicted slower growth rate impacts market dynamics.
Tech Giants' Earnings: Influence of Microsoft, Alphabet, and other tech companies on market sentiment.
📝 Today's Recap:
Strong U.S. Economy: Growth defies recession fears but is tempered by the Fed's cautious stance.
China's Financial Challenges: Market impacts of China's economic difficulties.
Corporate Earnings: Insights into the tech sector's performance based on earnings reports.
🌍 Global Financial and Economic News:
Fed's Interest Rate Policy: Market reactions to the Federal Reserve's decision to maintain rates.
Mortgage Rate Trends: Implications of decreased mortgage rates for the housing market.
Job Market and Tech Layoffs: Interplay between strong job market and recent layoffs in the tech sector.
📉 Support Levels to Watch:
4874, 4860-65 (Major), 4847, 4841 (Major)
4832 (Major), 4824, 4817, 4811
📈 Resistance Levels to Watch:
4878 (Major), 4888, 4890-92 (Major)
4898, 4904-02 (Major), 4912 (Major)
📅 Trading Plan for Thursday:
Strategy for Volatile Market: Adapt to potential volatility following the Fed's decision.
Bull Case: Focus on reclaiming key levels to resume an upward trend.
Bear Case: Monitor for further breakdowns below support levels.
Action Plan: Evaluate supports and resistances, adjust strategy based on market reactions to Fed's decisions.
🛑 Disclaimer: This analysis is for educational purposes only and is not financial advice. Consult a professional financial advisor for trading decisions.
