🗞️ Weekend Price & Flow Analysis for Week #5
NQ ES GC Prep for week of (1/26 - 1/30)
⚡️TL;DR
Big week coming (NQ/ES/GC): FOMC + Powell and mega-cap earnings can whip price fast, expecting fake outs…
NQ : Back in the range. Watching how price reacts at key support & resistance
ES: Stronger overall tone than NQ, but the 7,000 area is decision level.
GC: Trend is super up, but is sensitive to rates and dollar — hawkish Fed / rising yields can cool it off… watching how it reacts.
Overall, things looks bullish, with some hot spots of bearishness in mega tech and Financial sector.
🌐 Price & Flow
📊 Futures Indices
Price, Options Flow, Order Flow…
NQ (Nasdaq Futures) -
📈 Price / Levels (NQ):
Back in a choppy range after the big dip… Buyers defended the mid-25,000s and we bounced back toward the upper end of the range.
Upside zone is 25,900s to 26,050s. Downside level is 25,550s for me.
🌊 Options flow (QQQ):
QQQ ended the week with more call premium than puts, which could means dips get bought, but the flows were swingy day to day, so still cautious.
🔀 Order flow (NQ vs QQQ):
NQ seems to have more bearish levels to the upside compared to QQQ, but price continues to holds up. CVD is green for both, but falling on the QQQ, while Friday had a green spike for NQ… Lets see if that leads us up next week.
ES (S&P Futures) -
📈 Price / Levels (ES):
Still in the bigger uptrend, but we had a dip and buy week.
Key decision levels are 6,975s and 6900s. We printed a new high 10 days ago, so lets see if we can try again.
🌊 Options flow (SPY):
SPY was slightly more call-heavy by the end of week, but still relatively neutral, which could signal hedging as price finds what it wants to do.
🔀 Order flow (ES vs SPY):
Strong buying imbalance on ES at the highs of Thursday, with CVD green for the last few days across both ES and SPY. Friday SPY did have alot of negative delta near POC, so lets see if we can push through that.
GC(Gold Futures) -
📈 Price / Levels (GC):
Super strong, new highs, new highs, new highs all week. Lets see if we can break the 5000 level. Plenty of support to the downside.
🌊 Options flow (GLD):
Call premium consistently far outweighs puts, which matches the strong price action and holds up the bullish direction.
🔀 Order flow (GC vs GLD):
Price continued to absorb the negative CVD and pushed higher.
VIX (S&P Fear Index) -
Cooled back down near 16 after the pop, but options still had more calls on Friday, so there may still be some anxiety out there.
YM (Dow Futures) -
Dow is still holding up in an uptrend after the quick rebound from the sell off. Call premium was up most of the week, but both fell on Friday.
RTY (Russel Futures) -
New high on Thursday, then a big pull back on Friday as put option volume dominated all week.
Overall, The market still looks generally strong, but it’s getting choppier.
Gold is leading, small caps are strong but a bit crowded, and stocks/indexes are mixed. Next week, will be watching how price reacts in the range for NQ and ES.
⚡️Review of Top Names QQQ (NQ), SPY (ES)
Price, Options Flow, Order Flow…
NVDA (Nvidia) - Price is basically chopping sideways and trying to hold a base.
APPL (Apple) - Still in a clear pullback; every bounce has been getting sold and it’s now sitting on important support
MSFT (Microsoft) - Continues sliding down, but it’s starting to look like it’s trying to stabilize near the lows.
AVGO (Broadcom) - Volatile and messy: big swings, but lately it’s more sideways-to-down and not acting clean
AMZN (Amazon) - Looks healthier than most of the group: it’s been trying to grind back up and hold higher levels.
TSLA (Tesla) - Still in “bounce vs breakdown” mode after a big drop from the highs; it’s trying to form a floor but it’s not convincing yet
META (Meta) - Weak trend overall, but it’s attempting to base and chop.
GOOG (Google) - The strongest chart in the group: it’s still trending up and holding near highs compared to everyone else.
Overall, Big tech is mixed. GOOG is leading, while AAPL/MSFT/META are still trying to come back, and NVDA/AVGO/TSLA are choppy. That could mean the NQ can still push, but it may be more of a grind until the weaker mega-caps either find strength or break down.
⚡️Review of Gold / Macro
Price, Options Flow…
DXY (Dollar) - The dollar is slipping again, which usually makes it easier for things like gold/silver and other commodities to stay strong. It also helps risk assets breathe a bit, as long as rates don’t jump too fast.
TNX (Treasury Note) - Yields are breaking higher, which is basically “gravity” on expensive growth/tech and can create sharper intraday swings. This is the main macro headwind right now even while other parts of the market look strong.
BTC (Bitcoin) - Bitcoin is still choppy and not back in a clean uptrend yet, but it’s trying to stabilize after the drop. Options flow on IBIT looks like traders started leaning more bullish into the end of the week (more call interest), so a bounce attempt is on the table if price follows through.
CL (Crude Oil) - Oil popped, then got indecisive again—more “headline/data sensitive” than trending. Options flow on USO looks mixed, which matches a market that isn’t making a strong bet yet.
SI (Silver) - Silver is one of the cleanest “risk-on” charts here: it’s been pushing higher and the options flow on SLV is very call-heavy. Momentum money is leaning bullish and treating dips as buyable.
PA (Palladium) - Palladium still feels like the laggard metal—price is jumpy and direction isn’t as clean. Options flow on PALL is also swingy, which fits more “speculation” than a steady trend.
HG (Copper) - Copper has been strong overall even with a pullback, which usually supports the “economy/industry is okay” narrative. Options flow on CPER is leaning bullish, suggesting traders are still buying the bigger uptrend story.
GC (Gold) - Gold is still the headline: price is trending up hard and GLD options flow shows big call demand. That reads like investors still want a safety/hedge bucket even while yields are rising.
Overall, It looks like metals strong with soft dollar and yields rising. That mix can keep the broader market supported, but it also sets up more rotation and chop (especially in tech) if yields keep pressing higher.
⚡️Review of Sectors
Price, Options Flow…
XLK (Technology) - Price is mostly chopping sideways in a tight range. Options activity leaned more toward puts, so traders look a little cautious.
XLF (Finance) - Still in downtrend after the big move up a few weeks go. Options flow mixed and seems defensive.
XLY (Consumer) - Trying to push higher and still in an overall uptrend with big swings. Options flow is neutral.
XLE (Energy) - Super strong, even though options flow shows more put premium… could just be hedging while it keeps grinding up.
XLV (Healthcare) - A little choppy as we trend up. Options flow is slightly negative, so not a lot of confidence on price sustaining.
XLI (Industrial) - Still strong and pushing higher. Options flow is flat, but price says buyers are still in control
XLP (Staples) - Strength — it’s been climbing steadily. Options flow is neutral, which may fit the steady climb.
XLU (Utilities) - Price is steady falling, but options flow showed more calls popping up to end the week, which can mean traders are starting to position for a bounce (Maybe due to the winter storm?)
⚡️AI Powered Price Score Matrix
Proprietary matrix powered by AI that provides market price action summary and what it means for NQ, ES, and GC futures.
Overall, things looks bullish, with some hot spots of bearishness.
🌊 Weekly Order Flow
⚡️NQ Review
Grinding down to start the week, but broke through all the bearish absorption later in the week. Bullish absorption was the clear winner this week. Watching how price reacts at 25730s, 25530s, 25410s, 25170s.
⚡️ES Review
Clearly aggressive sellers got liquified as they tried to push price lower in the middle of the week. Watching to see if we can continue higher. Levels 6870s and 6870s.
⚡️GC Review
Price is so strong, aggressive sellers won a little bit in the middle of the week, but bullish absorption continued to push us higher. Levels 5000s, 4960s, 4910s
📅 Upcoming Events
This week is packed with “volatility events” that can shove NQ and ES around fast, and also swing GC (gold) through rates/inflation.
The biggest one is the FOMC rate decision (Jan 28), Then big tech earnings (MSFT, TSLA, AAPL), plus inflation data (PPI), jobs data (claims), and growth data (durables, PMI) . Then on the weekend, NATO tariffs potentially start, so be on the look out for Trump tweets…
