(DAILY NOTION): Subdued Results For US30, NAS100, SPX500 Futures...A Glimpse of Things to Come? Next Mover: U.S. Stimulus Package, U.S. Data

NASDAQ 100 (as of Jan 9, 2021 at 2.30 p.m.)

Source: Yahoo Finance

SPX 500 (as of Jan 9, 2021 at 2.30 p.m.)

Source: Yahoo Finance

US30 (as of Jan 9, 2021 at 2.30 p.m.)

Source: Yahoo Finance

After an eventful first week of 2021, the US30 futures dipped 130 points, while the SPX500 futures and NAS100 futures dipped 0.5% and 0.3% respectively.

The chief market strategist at Miller Tabak, Matt Malley opines that a correction is likely to begin during the first quarter of 2021.

This coming week begins with the anticipation of the large economic stimulus package that was promised by Joe Biden. A formal announcement is expected to be released on Thursday. Against this expectation, however, unrest still remains as many democrats want President Trump to be impeached from the office.

Upcoming U.S. data like the consumer price inflation and retail sales would also be on the radar for this week. Furthermore, earning for the fourth quarter of 2020 from JP Morgan, Citi, and other big banks are also due for release this week. Traders would most likely be watching this as a gauge of the 2021 economic forecast in the midst of a pandemic that does not seem to be abating.

With much to fill our plates for this week, let’s hope that the second week of 2021 would bring forth more peace and stability for the world and markets alike.

FOLLOWME User Sentiment (as of Jan 9, 2021 at 2.30 p.m.)

SPX500

Short – 80.93%

Long – 19.07%

NAS100

Short – 79.42%

Long – 20.58%

US30

Short – 75.13%

Long – 24.87%