Volatility continues to make this market very difficult……
Leaders from the start of 2026 were under fire today:
Commodities were hit today as Silver and Gold gapped up and reversed. Coal and Uranium were also smacked hard today.
XME -4% but from the highs the reversal was a steep 7% drop
Small Caps which started selling off Friday continued today with IWM -.3%
MAGS +.46% rallied with GOOGL,META,MSFT,AAPL moving higher
XLK +.7%
QQQE +.6% hit a New High today which was a bright spot….QQQ +.44% but running into the resistance test area again. It has to prove itself and show follow thru or do we still continue the chop?
HCC -9% stopped out
CENX -7.4% stopped out
FCX trade never triggered and is now scratched.
AMAT could trigger tomorrow?
For those with stomach, FIGR has formed an ADD-On entry point with a BnB Pullback Setup
Pivot: $65.41, Stop Loss $59.53 or 9% risk. Keep the size small due to the higher risk….2-3% size
MAG7 Earnings start this week (META MSFT, AAPL, TSLA )and the Memory Stocks(STX, SNDK WDC). How the Street reacts to these earnings will reveal much about if the chop will continues, we break down or tech breaks out.
Keeping overall exposure on the lower side seems prudent until we get more evidence this week.
J