Weekend Report for Monday, January 26, 2026
Bottom Line:
US indices to flirt in and out or just below new ATHs. There isn’t a consensus direction on a day-to-day basis.
Here is what we know:
- Last week’s lows are important in all the indices
- The NDX and SPX continue to be whippy day-to-day and intraday, and are in mature Balance Areas
- Next week there is a LOT of news including earnings from the four of the MAG 7 powers (META, AAPL, MSFT, TSLA), Fed meeting on Wednesday and PPI reported on Friday morning.
The only thing I am confident in is continued day-to-day and intraday volatility. Wednesday-Friday, in particular, is likely to be nuts.
PDF: Weekend Report_2026_01_26
VIDEO: https://youtu.be/uI8_A06saj4
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Let’s start with a look at the four MAG 7 stocks that report next week. MSFT, META and TSLA all report after the market close on Wednesday, the 28th. AAPL reports after the close on Thursday, the 29th.
TSLA is in a multi-month well defined Balance Area. It is due to break sharply.
META is in a whippy range, but due to break one way or the other.
MSFT is in a downtrend and needs to close above 490 to restore a bullish outlook.
AAPL is making lower lows and highs.
SPX
Two-day Balance
NDX
The NDX is due for more than a 30m trend.
DOW
The DOW is currently trading below significant volume.
NYA
The NYA is holding up really well.
RSP
RSP in a similar position as the NYA.
RUT
RUT needs to be on a mood stabilizer.
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US Dollar – Weekly
The US Dollar is now below significant volume of all recent trade, and appears headed to test the 96 area.
US 10-yr Notes – Weekly
The 112’07 level in Notes needs to be regained quickly or Notes are likely to accelerate lower.
Gold
Freight train to the upside. Some retracement/Balance is increasingly likely.
Crude – Weekly
I’m favoring longs against last week’s lows.
Bitcoin
BTC is testing a critical level.
