JR28 Weekly Market Insights

Week of January 6th, 2024

JR28 Weekly Trading Newsletter: January 6 - 10, 2025

Economic Events to Watch:

• Monday (9:45 AM): S&P Global Services PMI (Dec)

• Tuesday (10:00 AM): ISM Non-Manufacturing PMI (Dec), ISM Non-Manufacturing Prices (Dec), JOLTS Job Openings (Nov)

• Wednesday (8:15 AM): ADP Nonfarm Employment Change (Dec), FOMC Meeting Minutes (2:00 PM)

• Thursday (8:30 AM): Initial Jobless Claims

• Friday (8:39 AM): Average Hourly Earnings (MoM) (Dec), Nonfarm Payrolls (Dec), Unemployment Rate (Dec)

---

Recap of SPX Forecast and Price Action

Last week, we predicted a potential head & shoulders pattern in the S&P 500, recommending a short position against the 6009 level, targeting a pullback to 5871–5800. The market moved in line with our forecast, reaching a low of 5829 before bouncing.

---

Trade Idea Recaps:

• TSLA Dip Buy:
  We identified a buying opportunity at $370, which turned out to be the low for the week before a strong $40 surge up to $410. This proved to be an effective trade for those who followed our suggestion.

• NVDA Long:
  We entered NVDA at $129, anticipating a move to $144. The stock reached our target, closing the week at $144, making it a solid play with a strong profit.

• AMD Long:
  Entering at $120, AMD surged higher, peaking at $125. This trade also played out well, delivering a nice move from our entry point.

• GME Long:
  We recommended a long position in GME towards a target of $35. We came very close to this target, with GME making strong progress throughout the week.

• NVDA $150C JAN 17 Options:
  We purchased these options at $1.42 and sold at $3.00, capturing a nice gain of over 100% in just a short time.

• TSLA $500C FEB 21 Options:
  Our call options were bought at $7.60 and saw a strong rally, reaching over $13.40 as of Friday, marking another successful options trade.

---

This week, we saw good movement in the markets that followed our predictions. We also had several successful trades, including TSLA, NVDA, AMD, and GME, with notable wins on options positions. We continue to monitor the broader economic data and are ready to adjust strategies for the upcoming week.

Looking ahead, keep an eye on Friday's payrolls data, as it will likely bring significant market movement.

---

Market Sentiment:

---

TRADE ALERTS:

For those of you not in the Discord (www.jr28trading.com) I highly encourage it as we cover a lot of the setups given here but we also alert LIVE trade ENTRIES and EXITS on Stocks, Options, Crypto & Futures.

---

Technical Analysis

SPX Analysis:

Key Levels: 5871 6009

6009 has been a key level for over two months and continues to be important for the next major leg here on SPX. If 6009 is overcome, we get an explosive rally towards 6200. On the flip side, 5871 must continue to hold for the bulls to keep this rally in play. If bears send us below 5871 again, we could start a real breakdown.

Bullish Setups:
1. A reclaim / failed breakdown of 6009 for a long into 6200
2. A reclaim / failed breakdown of 5763 for a long into 5870.

Bear Setups:
1. A head & shoulders, short against 6009 for a move down into 5871. 5871 must fall for further sell into 5763

---

IWM 0.00%↑
Possible failed breakout however we are now retesting this downtrend line so this could be the start of the rally to 270+

• Bullish: Above 226, we can re-long targeting a move back to ATH.

• Bearish: Below 216, watch for a potential drop to 199.