An Action-Packed Wednesday 📈 The Daily Chart Report

January 28, 2026

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Today’s Summary

Wednesday, January 28, 2026

Indices: Nasdaq +0.32% | Dow +0.02% | S&P 500 -0.01% | Russell 2000 -0.49%

Sectors: 2 of the 11 sectors closed higher. Tech led, gaining +0.80%. Consumer Staples lagged, dropping -1.01%.

Commodities: Crude Oil rose +1.80% to $63.51 per barrel. Gold rose +5.83% to a new all-time high of $5,378 per oz.

Currencies: The US Dollar Index rose +0.56% to $96.35.

Crypto: Bitcoin is currently flat (+0.17%) at $89,275. Ethereum is also flat (-0.16%) at $3,013.

Volatility: The Volatility Index was flat (-0.12%) at 16.34.

Interest Rates: The US 10-year Treasury yield rose to 4.247%.

Here are the best charts, articles, and ideas shared on the web today!

Chart of the Day

Consumer Discretionary ETF $XLY has been basing for months

It's going to be awfully hard to be bearish if this resolves higher pic.twitter.com/F3IHPtEKvO
— Justin Spittler (@JSpitTrades) January 28, 2026

🏆 Today’s Chart of the Day was shared by Justin Spittler (@JSpitTrades).

Consumer Discretionary ($XLY) has spent the last year carving out a potential cup-and-handle base.
With Tesla ($TSLA) reporting after the close today and Amazon ($AMZN) next week, positive reactions could act as catalysts for renewed momentum with both stocks representing roughly 40% of the sector.
As Justin notes, rotation into Discretionary would be the opposite of bearish, though confirmation from the equal-weight Discretionary ETF ($RSPD) would add further confidence to the bullish setup.

The Takeaway: Consumer Discretionary continues to consolidate, with Tesla and Amazon earnings serving as potential catalysts for an upside resolution.

Quote of the Day

“Most investors want to do
today what they should
have done yesterday."

- Larry Summers

Top Tweets

Lots of Fibonacci Extensions clustering right here pic.twitter.com/ikDPUVctIp
— J.C. Parets (@JC_ParetsX) January 28, 2026

As January goes, so goes the year

January is up this month

Historically, green Januarys were followed by more gains for $SPX 87% of the time for the rest of the year. Average gain of 12.2% pic.twitter.com/phRKbXyi6d
— The Market Stats (@TheMarketStats) January 28, 2026

February tends to be a "Mind the Gap" type of month. Softer, not catastrophic, under-performs other months of the year w/ exception of Sept. $SPX pic.twitter.com/6WKJknxJsL
— RenMac: Renaissance Macro Research (@RenMacLLC) January 28, 2026

Snapshot of 2026 performance so far.

Commodity and commodity-adjacent assets out front.

The easy SPY hold? Vanilla. $SLV $GLD $SPY pic.twitter.com/XfKyque57c
— Evan Medeiros (@evanmedeiros) January 28, 2026

The II bull-bear spread climbed to a new cycle high and is above 45% for the first time since Dec 2024.

The risk to equities is not elevated optimism itself but the shift from elevated optimism to outright pessimism.

It takes bulls to have a bull market.@HiMountResearch pic.twitter.com/TwdpYwCkXK
— Willie Delwiche, CMT, CFA (@WillieDelwiche) January 28, 2026

Consumer confidence plunged this month, hitting a 12-year low. pic.twitter.com/Hu0UDHF0oa
— Steven Rattner (@SteveRattner) January 27, 2026

I looked at forward S&P 500 ( $SPY ) returns when consumer confidence is low.

When confidence drops below 60, average 12-month returns jump to 12.8% from 10.4% overall. We've been below 60 since August 2025. pic.twitter.com/KUvbEhVSYX
— Randy Dunham (@itmrandy) January 28, 2026

Major currencies that have strengthened vs. the US Dollar over the last year. pic.twitter.com/kwVFirYFIs
— Koyfin (@KoyfinCharts) January 28, 2026

Strategy $MSTR will never sustainably outperform Bitcoin again. But in the short term, all the downside risks are priced in, it's trading back at NAV, and it's stretched to the downside.

It has a nasty counter-trend move written all over it. pic.twitter.com/64CsJs7OVb
— Louis Sykes (@haumicharts) January 28, 2026

$GLD such a textbook model move on the weekly.

All coming from a huge base pic.twitter.com/0rBlwEz2uA
— Richard Moglen (@RichardMoglen) January 28, 2026

Gold has outperformed the S&P 500 by 82% on a rolling 3-year basis.

Gold was a losing bet against stocks for most of the last 15 years but that flipped dramatically since 2024. pic.twitter.com/wNPsFHDSXc
— Phil Rosen (@philrosenn) January 28, 2026

Nothing to see here, move along now.

Bloomberg Commodities BCOM

Gold 16%
Oil 15%
Nat Gas 9%
Copper 5%
Silver 5% pic.twitter.com/GKGqHI5pdm
— Lawrence McDonald (@Convertbond) January 28, 2026

1. Stocks: all-time high
2. Home Prices: all-time high
3. Gold/Silver: all-time high
4. Money Supply: all-time high
5. National Debt: all-time high
6. CPI Inflation: >4% per year since 2020, >2x the Fed's "target"
7. Fed: expected to cut interest rates 2 more time this year pic.twitter.com/0jpQyOVPWp
— Charlie Bilello (@charliebilello) January 28, 2026

You're all caught up now. Thanks for reading!

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