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Good Thursday Morning, MPTraders! January29, 2026-- Pre-Market Update:-- There are two trading days remaining in January... -- All else being equal, the January Seasonal Tendency is for SPX strength today and tomorrow into month-end (see Seasonal Graphic below)...-- Headline Risk this AM: President Trump holds a Cabinet Meeting at 11 AM ET, which could be open to the press again...-- Notable Earnings After the Close: AAPL-- Geopolitical Risk Rhetoric is Climbing Rapidly concerning an imminent Persian Gulf War. We will examine some select Energy Charts later this AM...
Bitcoin: Breakdown!Bitcoin wasted little time this week moving lower. As discussed last week; after the nearly 8 week consolidation, price poked above in mid-January and was swiftly rejected and now is taking the most direct path lower. As of writing this article, the November low has been resoundingly broken on a sustained basis but price has yet to test $74.4k, the April 2025 low which is the next downside target.
Today we saw the market move sharply lower, but was able to find support at the lower end of the key retracement level before we headed into the final hour of trading. If we can manage to hold today's LOD overnight and into tomorrow, then the door will remain open for this to push higher in a wave iii of larger waec (c).
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