Wednesday, January 28, 2026
Midweek markets don’t “suggest” direction — they demand proof. Today is all about structure, acceptance, and not getting emotionally attached to the first move.
📅 Today’s Watch-List: Key Catalysts
there are major scheduled events today (Wednesday, January 28, 2026) that could influence markets and trader positioning, beyond just normal order-flow dynamics:
🏦 Federal Reserve Policy Announcement
The Federal Open Market Committee (FOMC) is scheduled to release its policy decision today (expected at 2:00 p.m. ET) following its Jan 27–28 meeting.
The Fed is widely expected to hold the federal funds rate unchanged at 3.50 %–3.75 %, but comments from Chair Powell and the statement’s tone on inflation and future rate cuts will influence risk assets, yields, and sentiment.
🧠 Fed Chair Jerome Powell Press Conference
Shortly after the policy release, Powell’s press briefing will be markets’ focal point for forward guidance and nuance on the economic outlook, monetary policy, and labor market conditions. A hawkish or dovish tone can swing equities, fixed income, and FX.
💼 Earnings Reports After the Close
Today is a big earnings day for mega-cap tech — including Tesla, Meta Platforms, and Microsoft reporting after market close. Their results and forward guidance could meaningfully move the tape on valuations, growth sentiment, and sector leadership.
📰 Broader Market Context
Accounts of mixed consumer confidence and tech strength set up bond/equity sensitivity to the Fed outcome and earnings. Markets are keyed to both:
macro policy signals
and corporate profitability trends — especially in high-beta sectors like tech.
📌 How These Events Could Impact Today’s Trading
Fed Policy & Powell Press Conference
Equities: A dovish/neutral statement with openness to later cuts could support risk assets; a hawkish tilt could trigger sector rotation and volatility.
Yields: Powell’s language on inflation and rate trajectory is often more market-moving than the rate decision itself.
FX & Metals: Dollar and real-rate expectations can shift quickly, influencing gold, commodities, and carry trades.
Earnings
Post-Market Swing Risk: Strong beats/guidance from Tesla, Meta, or Microsoft can lift sentiment for the broader market into tomorrow; disappointments can pressure indices, especially tech-heavy ones like NQ.
Overall
Today’s session may see increased volatility around 2:00 p.m. ET and into the close as markets process both policy and price discovery ahead of tonight’s earnings.
📈 ES – E-mini S&P 500
Current Conditions
ES continues to trade in a range where:
buyers defend dips quickly,
sellers respond near highs,
and the middle of the range is a trap disguised as “opportunity.”
Pit-session structure remains highly relevant for intraday execution.
What to Expect Today
AM session: likely range discovery / positioning.
2:00–3:00 PM ET: volatility expansion risk.
Post-FOMC: look for either:
acceptance + continuation, or
failed move + violent rotation.
Ways to Take Advantage
Trade structure in the morning; reduce size into 2:00 PM ET.
Let the post-FOMC move establish direction before pressing.
Treat the first spike as suspect until acceptance confirms.
📈 NQ – Nasdaq / Tech
Current Conditions
Tech remains highly sensitive to yields.
NQ can exaggerate ES moves, especially around the open.
What to Expect
Larger swings than ES.
Watch for divergence:
NQ leading → confirms risk-on
NQ lagging → signals caution
Ways to Take Advantage
Use yields as confirmation.
Trade smaller size; NQ loves to “overreact first, apologize never.”
🥇 Gold (GC)
Current Conditions
Gold remains active but today’s spotlight is on ES.
GC remains tied to:
real yields
dollar strength
What to Expect
Rotational trade unless yields trend decisively.
Ways to Take Advantage
Structure trades outperform chasing.
Let gold come to levels — don’t hunt it.
🛢️ Oil (CL)
Current Conditions
Oil remains range-bound and headline-sensitive.
What to Expect
Quiet-to-choppy trade unless news hits.
Ways to Take Advantage
Fade extremes unless momentum is catalyst-backed.
₿ Crypto (BTC / ETH / Alts)
Current Conditions
Crypto remains volatile and sentiment-driven.
Equity correlation remains elevated.
What to Expect
Spikes and reversals.
Ways to Take Advantage
Tactical trades only.
Don’t let an altcoin wick rewrite your biography.
🏠 Real Estate
Current Conditions
Rates remain the dominant driver.
Intraday relevance is minimal.
🎯 PRO TRADER TRADE OF THE DAY – ES (Pit Session Only)
Presented by Patrick Assalone – Target Trading Academy
Today’s trade is brought to you by pro trader and instructor Patrick Assalone, of Target Trading Academy.
It is a Pit Session-Opening “GAP FILL” in the ES. If you are not sure of how to take the trade, please watch the video HERE, or schedule a call with their team.
FOR ES PIT SESSION ONLY
Pit Session Reference Levels
Pit High: 7018.25
Pit Low: 6988.50
🔻 IF ES OPENS GAP UP → LOOK SHORT BELOW
7018.50
🔺 IF ES OPENS GAP DOWN → LOOK LONG ABOVE
6988.50
6994.50
7005.50
🎯 TARGET FOR EITHER SET OF ENTRIES
➡️ 7012
🔄 IF ES OPENS IN BALANCE (within yesterday’s range)
LOOK SHORT BELOW
6988.50
6976
6968.25
6952.25
LOOK LONG ABOVE
7018.50
7025
🧠 Trade Explanation – How to Think About the Gap Fill
This is a structure-based pit-session gap fill strategy:
If ES opens outside prior value, price often tests the extreme and rotates back toward balance.
The 7012 target functions like a magnet:
where liquidity concentrates,
profit-taking occurs,
and rotations often complete.
Execution mindset
Best odds usually come from the first clean test of the level.
Don’t chase late entries.
Manage risk with size and discipline — not hope.
🔎 OVERALL TAKEAWAY
Today is a structure-first session… until 2:00 PM ET.
Morning: trade levels, stay patient.
Afternoon: expect volatility expansion.
Late day: earnings risk can spill into futures.
Trade the plan. Respect the levels. Reduce risk into catalysts. Let the market confirm direction.