Week of January 26

More tariff threats, FOMC, big tech earnings this week.

Recap of last week

The week began with a big gap down and 2% down day. Bulls recovered most of the drop by the end of the week aided by a Trump de escalation. We keep failing at 6950s, then keep coming back up to retest it. Is that bullish?

Next move for markets

Down. I maintain that the index will keep failing here at this heavy resistance until Mag 7 sta…