trade this week's news like a pro

Happy Sunday team. Hope everyone had a wonderful weekend away from the charts.

We’ve got a handful of news items this week with JOLTS, FOMC rates, unemployment claims, unemployment rate, and more…

We share our exact levels to watch out for in today’s Sunday brief.

Let’s jump in!

Impact Snapshot

• Consumer Confidence - Tuesday

• JOLTS Job Openings - Tuesday

• ADP Nonfarm Payrolls - Wednesday

• FOMC Rate Decision - Wednesday

• Unemployment Claims - Thursday

• ISM Manufacturing PMI - Thursday

• Unemployment Rate - Friday

• Non-Farm Payrolls - Friday

• Earnings: 

Market Evaluation

The S&P500 rose for a third consecutive week as the first reading of Q4 economic growth came in stronger than expected and some earnings topped estimates.

The GDP report came as a number of quarterly earnings reports have surpassed expectations. Plenty of big cap companies posted stronger than expected financial results last week.

One of the busiest weeks of the quarter is set to greet investors. 

Earnings from the “Magnificent seven” tech stocks are set to release in addition to a highly packed week of economical reports.

On Wednesday afternoon, the Fed is set to announce its latest policy decision. Traders expect the central bank will leave interest rates unchanged in a range of 5.25% to 5.50%. 

The focus of next week's economic data will be January's employment figures, with ADP's monthly employment report scheduled for Wednesday and the US monthly Non-farm payrolls and unemployment rate due on Friday.

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Markets Breakdown

If you’ve been following us for a while, you most likely heard us say about market’s need for “catalysts” in order to start a directional move.

Next week is shaped to be one of the most catalyst-focused week that we’ve had in some time.

With major earnings coming from some of the biggest tech companies to major economical reports, this market will have the perfect environment for volatility and directional movements.

With the rally of 2023 mostly influenced by tech & AI, any negative results can have a heavier impact in this market.

We are now ranging on a 3-day balance area which is the market’s way of communicating that it needs additional information prior to it’s next directional movement.

Heading into the week ahead we will monitor market’s ability to continue ranging inside the balance or if there is enough volume to support a breakout.

Remember, unless there is clear confirmation in form of aggression, we are still going to look for rotations inside the balance area.

ES

The key areas we are looking for next week.

• Upside Levels: 4937/4966/4974

• Downside Levels: 4881/4858/4841

That’s all we got for you today.

As always, please share this with 1 or 2 friends that you think will enjoy our market reports.

We’ll see you Tuesday!

-The QuantVue Team