Stock Market Today With IBD On The Cusp Of Earnings Onslaught And Fed; Archer Daniels, BWX Tech, Ericsson In Focus
Jan 23, 2026
Market reaction after a long holiday and global headlines drives a sharp gap and oversold bounces in big tech and software. Regional banks and KRE reverse after a failed breakout while industrials, semiconductors, and healthcare show relative strength. Preview of heavy earnings and Fed timing creates potential volatility. Breakouts in Ericsson and BWX Technologies plus agribusiness and clean-energy ETF setups are highlighted.
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Range-Bound Market Needs A Sustained Low
- The market has been range-bound with failed breakouts and short-lived rallies.
- Sustained moves require lows to stay above the 21-day moving average for several days.
Use Earnings And Fed As Catalysts, But Manage Risk
- Expect volatility around earnings and the Fed and use those catalysts to test a true breakout.
- Err on the bullish side in a bull market but manage risk because the reaction can go either way.
Mega-Cap Bounces Lack Conviction
- Weak, oversold mega-caps are bouncing but the rallies lack conviction.
- Strength in a few names doesn't yet alter the broader negative technical condition.