Introduction
Good Morning Traders! Today marks the end of the second full week of January 2026, with a relatively light economic calendar. However, volatility can still emerge due to positioning and options-related flows. One key factor to consider is MOPEX, which refers to monthly options expiration. MOPEX often brings increased intraday volatility as large institutional players hedge, roll, or unwind options positions, particularly around widely traded strikes.
Economic Calendar
Today’s economic calendar includes:
- December Industrial Production and Capacity Utilization at 9:15 AM ET
- January NAHB Housing Market Index at 10:00 AM ET
- Federal Reserve Vice Chair for Supervision Michelle Bowman speaking on the outlook for the economy and monetary policy at 11:00 AM ET
- Federal Reserve Vice Chair Philip Jefferson discussing the economic outlook and policy implementation at 3:30 PM ET
Market Analysis
With a light data schedule, markets may react more strongly to commentary from these speakers, especially as traders position into the weekend. Expect thinner liquidity, options-related volatility, and potential late-day swings as the week comes to a close.
Stock Analysis
SPDR S&P 500 ETF Trust (SPY)
- Currently trading around 694.25
- Holding near the upper end of its recent range
- Potential upside targets: 696.10, 697.85, 699.50
- Potential downside targets: 692.70, 691.10, 689.50, 687.90
Invesco QQQ Trust Series 1 (QQQ)
- Currently trading around 625.50
- Holding near a consolidation zone after recent rotation within tech
- Potential upside targets: 627.20, 629.10, 631.00
- Potential downside targets: 623.90, 622.30, 620.75
Apple Inc. (AAPL)
- Currently trading around 257.50
- Attempting to stabilize after recent downside movement
- Potential upside targets: 258.90, 260.10, 261.40
- Potential downside targets: 256.30, 255.10, 253.85
Microsoft Corp. (MSFT)
- Currently trading around 457.75
- Sitting at a sensitive inflection point after sustained pressure
- Potential upside targets: 459.40, 461.25, 463.10
- Potential downside targets: 456.20, 454.50, 452.75
NVIDIA Corporation (NVDA)
- Currently trading around 188.75
- Holding near a short-term pivot after recent volatility
- Potential upside targets: 190.40, 192.10, 194.00
- Potential downside targets: 187.10, 185.50, 183.90
Alphabet Inc Class A (GOOGL)
- Currently trading around 334.25
- Hovering near recent highs as buyers attempt to maintain control
- Potential upside targets: 336.00, 338.10, 340.00
- Potential downside targets: 332.60, 330.80, 328.90
Meta Platforms Inc (META)
- Currently trading around 623.00
- Sitting near a short-term balance area
- Potential upside targets: 625.40, 628.00, 630.50
- Potential downside targets: 621.20, 619.10, 617.00
Tesla Inc. (TSLA)
- Currently trading around 441.00
- Attempting to stabilize after recent swings
- Potential upside targets: 443.80, 446.50, 449.25
- Potential downside targets: 438.90, 436.50, 434.00
Conclusion
Good luck and happy Friday! Remember to stay informed and adapt to changing market conditions.