Day-Trading Scenarios for Jan 08, 2026

The market was happily on its way to 50,000 when Trump decided to tell some companies how to run their business. Some money managers are getting more concerned about the world’s toxic political environment.

We traded on the long side successfully until the market broke short-term support, then traded from the short side. We follow the plan. The daily trend remains up unless we break below 48340.

Next support to look for a long trade is 48980.

Next resistance to short is 49199.

Fundamental Outlook

Fundamentals remain supportive for equities (including Dow futures) in the broader 2026 context, with expectations of continued economic resilience, potential Fed rate cuts (futures pricing in 2-3 for the year), and AI/tech-driven growth. However, this morning's dip is driven by:

·     Profit-taking after the strong early-2026 rally stalling.

·     Jitters ahead of today's/Friday's key labor data (nonfarm payrolls).

·     Policy headlines, including President Trump's proposed massive defense budget increase (boosting defense stocks but adding uncertainty elsewhere).

Overall, the near-term tone is cautious with downside pressure today, but the medium-to-longer-term outlook stays bullish unless major data disappoints. The March contract has room to run higher if the broader bull market resumes.

6-Week Bill Settlement

Challenger Job-Cut Report

7:30 AM ET

International Trade in Goods and Services

8:30 AM ET

Jobless Claims

8:30 AM ET

Productivity and Costs

8:30 AM ET

Wholesale Inventories (Preliminary)

10:00 AM ET

EIA Natural Gas Report

10:30 AM ET

Treasury Buyback Announcement

11:00 AM ET

3-Month Bill Announcement

11:00 AM ET

6-Week Bill Announcement

11:00 AM ET

6-Month Bill Announcement

11:00 AM ET

3-Yr Note Announcement

11:00 AM ET

10-Yr Note Announcement

11:00 AM ET

30-Yr Bond Announcement

11:00 AM ET

4-Week Bill Auction

11:30 AM ET

8-Week Bill Auction

11:30 AM ET

Treasury Buyback Results

2:00 PM ET

Consumer Credit

3:00 PM ET

Fed Balance Sheet

4:30 PM ET

<<<<<<<<<<<<<<<<<<<<<<<<<<<

DATE: 1/8/2026

TIME: 9:07 AM

HIGH: 49876

LOW: 49182

CLOSE: 49239

PIVOT: 49432

SUPPORT: 48753

RESISTANCE: 49469

SWING MAGNITUDE: 229

TIME OF COMMENT: 9:07 AM

COMMENT: For today's real-time trading calls enjoy a One Week Trial at https://www.eminiace.com/services