Hello, traders! Andy here from Trade Ideas with a scoop on the last trading day of January. We’re seeing the curtains close on the month with a bit of a dip, especially with our tech giants in the ‘queues.’ But let’s not dwell too much on that today. Instead, I want to zoom in on the SPY – that’s where the real action is. We’re noticing a pullback to a level – you know, the same spot we hit for three straight days. But here’s the kicker: it might just slide on down to that ten period moving average. Definitely, something to keep your eyes peeled for.

Watching the Indicators: SPY and IWM

We’ve also got the IWM on our radar, with the market doing the old rotation dance lately. There’s an alert that’s got my hawk eye trained on it to see if it can bust through the one-month high we’ve been eyeballing. It’s a curious time to see if the small caps can steal the spotlight.

Trade Setups on My Radar

Now let’s shift gears to some trade setups that I’ve been pondering about. Remember me hollering about CCJ recently? There’s a pullback stirring up, possibly towards the 50 marker, which has got me intrigued. Had a bid on it the other day — a cheeky one at 45. The catch was, my bid didn’t catch on, and I’m scratching my head trying to figure out why I didn’t take the plunge earlier. But hey, let’s not dwell on the past, right? It’s shaping up for another move – let’s see if CCJ decides to dance upwards.

Moving on, we’ve got CLDX. This one’s been flirting with the 50, almost like it’s playing a game of tag. I’m keeping a watchful eye for any sign of momentum, maybe even aiming for that spike from the day before yesterday.

Earnings Spotlight: Otis and ADP

Oh, and take a glance at Otis — seems like they’ve clocked in some impressive earnings. And what do we have here? It’s knocking on the door of all-time highs. That level above 90 or 91 in Otis, that’s the golden zone for a breakout.

And can’t forget about ADP – the earnings season is in full swing, and this one’s on the rise. While it’s not near its top-of-the-world highs, it’s certainly breaking out of a monthly high at the open. Worth a watch.

One to Watch: FCX

Wait, there’s one more: FCX. Tighter than a drum, it’s wedged in there pretty good, squeezed between its 50 and the 20. I’m on the lookout for a break above that five-day high. Some of you might wait it out for it to surpass the earnings high, but either way, it’s on my radar with that intriguing wedge formation.

Keep a close eye on the trading patterns amidst earnings season – stuff’s heating up, and you don’t want to miss out!

Unfortunately, that’s all I’ve got time for today, but if you’re hungry for more, I bet you have Trade Ideas locked and loaded to keep tabs on other potential movers. Catch you all on the flip side – and remember, trading’s a tightrope walk: could be seeing some sell-offs. Until next time, keep it tight and trade smart!