Day-Trading Scenarios for Feb 02, 2026

Large overnight selloff met by big buying at 2:00 AM lows.

Silver and Gold crashed on speculators dumping positions after Kevin Warsh nomination. Warsh criticized Fed easing in the past but of course, now seems aligned with Trump's view--at least to become Fed Chair.

Regarding the US dollar, Warsh hasn't outlined a explicit policy, but his views imply support for a stronger greenback. This contributed to sharp drops in gold and silver.

The Dow has rallied over 500 from the lows, but the rally may run out of steam soon. Analysts are scurrying to see how earnings in the third quarter will look with a new Fed policy.

First support is 48891 then 48733. Resistance comes in at 49099 then 49185.

20-Yr Bond Settlement

PMI Manufacturing Final

9:45 AM ET

ISM Manufacturing Index

10:00 AM ET

3-Month Bill Auction

11:30 AM ET

6-Month Bill Auction

11:30 AM ET

Raphael Bostic Speaks

12:30 PM ET

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DATE: 2/2/2026

TIME: 9:19 AM

HIGH: 49169

LOW: 48571

CLOSE: 49008

PIVOT: 48916

SUPPORT: 48733

RESISTANCE: 49185

SWING MAGNITUDE: 251

TIME OF COMMENT: 9:19 AM

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