Mish’s Daily: The Economic Modern Family Remains Technically Intact

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Michele “Mish” Schneider

Director of Trading and Education

MarketGauge.com

Mish’s Daily: The Economic Modern Family Remains Technically Intact

Written by Michele ‘Mish’ Schneider

January 9, 2025

I have read so many scary headlines this week.

And let’s face it, the sell-off, especially in quantum computer stocks, is sobering.

Please though, pay attention to price and not headlines or you will go nuts.

If there is ever a year to learn about the Economic Modern Family, weekly charts and phase changes, this is the year.

You hear it’s a stock picker’s market? It always is. The difference is that for 2 years everyone picked tech and growth because it was bullish and obvious.

This year, a stock picker’s market means you better have a clue how to follow price action because fundamentals are up for grabs!

Which brings me to 4 points before we get into the Family

1. Tonight, January 8^th Geoff and I are doing a webinar and it’ll be awesome.

2. Today I talked to Andreas Steno on Real Vision-if you have a chance to watch, we cover a lot of great tips

3. If you have not read the Outlook 2025, please do

4. Read Plant Your Money Tree: A Guide to Growing Your Wealth-as relevant as ever

Starting with Granny Retail XRT, she might be my biggest focus for how bearish or bullish to be right now. Weekly phase-Bullish. Until that changes, this is a correction. Plus, as long as XRT holds 78.00, it’s back where it broke out from after a massive consolidation last year.

Granddad Russell 2000 IWM, is also in a weekly bullish phase. Not too worried unless price breaks down under the moving averages.

Big Brother Biotechnology IBB, in a weekly Distribution Phase. 130 is key support. Over 140 in the clear.

Sister Semiconductors SMH, still hanging tough over the 50-week moving average. Only if that changes do we start to worry. And 260 is a key resistance level to clear.

Tran Transportation IYT, the clutch sector, held the 50-week moving average. As IYT can be a leader, we want to see it clear 70 and hold 67.

Prodigal Son Regional Banks KRE remains the one sector still in a weekly Accumulation Phase as the 200-WMA is above the 50-WMA. Hence, a relative weak link that was a factor in 2023. Can that drag everything down again in 2025? Under 54 I would worry. Otherwise, not too concerning.

Crypto as seen through Bitcoin, is in a weekly Bullish phase. The leadership versus the benchmark is solid. After halving in 2024, BTCUSD consolidated with resistance at 76k. Now, that is major support and where the 50-WMA lives. It would be ugly getting there, and hardly a guarantee that it will. But if it does, that could be the gift of 2025. Otherwise, another weekly close over 104k should take it to 130k.

Again, charts matter. Learn how to read them. Headlines are great for daytraders and distracting for everyone else.

Thursday is the Day of Mourning for President Jimmy Carter, and the markets are closed.

Educational purposes only, not official trading advice.

For more detailed trading information about our blended models, tools, and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.

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Mish in the Media

Outlook 2025, the PDF This will set you up on the right side of the market along with many picks

Business First AM Mish talks about IBM, its role in Quantum Computing and price action signals to watch 01-07-24

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BNN Bloomberg Best Strategies to Invest January Trend Trade 01-02-25 

BFM The Business Station The importance of the January trend trade and how to use it 01-01-25 

Fox Business Mish sits with Ash Webster to discuss headwinds and how to navigate them 12-26-24 

Coming Up: 

January 13, 27 Podcast  

January 15 BNN Bloomberg 

January 15 Maggie Lake 

Weekly: Business First AM 

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