VQF Futures Update – Jan. 22, Tuesday
After sharp drops on Monday and Tuesday, stock index futures stabilized.
Today, the markets rebounded strongly.
• ES rebounded to around 6970.
• NQ rebounded to around 25730.
• YM long positions near 48750 gained almost 1,000 points.
• RTY long positions near 2631 gained over 110 points.
RTY made new highs again. Be alert for consolidation and pullbacks.
Markets are born in despair (Tuesday this week).
They grow in doubt and end in euphoria.
Do not try to predict when or how the market will break out of the recent range.
Our futures club always follows these rules:
Trade with a plan. Do not predict. Be patient. Follow the trading plan.
Stock Index Futures Levels
ES
• Support on pullback: 6861, 6802
• Major upside targets and strong resistance: 6997, 7038
YM
• Support: 48730–48750
• Strong resistance: 49950
NQ
• Key area: 25430
• Support: 25110
• Resistance: 25890, 26150
RTY
• Support: 2631
• Major upside targets and strong resistance: 2748, 2785
On the daily chart, stock index futures remain a buy on support.
The overall uptrend is still intact.
Commodities
Gold (GC G26)
Gold made new highs again. Volatility may increase.
The trend remains strongly bullish.
Strategy stays the same: buy on support.
• Strong support: 4867, 4795
• Strong resistance: 5005
Crude Oil (CL H26)
Continue to buy on support.
• Support: 57.25
• Rebound target and resistance: 62.1
Natural Gas (NG G26)
Repeated reminder: NG moves to extremes on both rallies and drops.
This move exceeded 80%.
• Strong support: 4.19
• Rebound target and resistance: 6.0
Bonds & FX
Treasury Bonds (ZB H26)
The rebound was rejected and prices pulled back.
Strategy remains: buy on pullbacks.
Bonds also move in extremes.
• Key support: 114’07
• Major rebound target and resistance: 118’23
US Dollar Futures
The dollar was rejected again near 100.
• Support: 96
• Resistance: 100, 102.5
Long positions in non-USD currencies should watch profits closely.
Bitcoin Futures
BTC stabilized near the first support zone around 87,000, as repeatedly noted.
This area is always a long opportunity.
BTC rebounded to 97,000, then met resistance.
Long positions should take profits and protect gains.
Yesterday, BTC again held near 87,000.
Today it rebounded to around 90,000.
Still, manage profits and reduce risk.
• Support remains: 87,000–86,000 and 78,000–77,000
• Major targets and strong resistance: 97,000, 108,000, 125,000
Trading BTC requires belief and discipline.
You must overcome fear and greed.
Keep position size small.
This helps you survive large volatility.
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