{"id":22578,"date":"2026-01-21T13:50:47","date_gmt":"2026-01-21T21:50:47","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=22578"},"modified":"2026-01-21T13:50:47","modified_gmt":"2026-01-21T21:50:47","slug":"triple-lever","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/triple-lever\/","title":{"rendered":"Triple Lever Stimulus PLUS: Weekly Copper, Levels, Reports; Your 4 Important Can’t-Miss Need-To-Knows for Trading Futures on January 22nd, 2026"},"content":{"rendered":"\n\n\n
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2026 is Underway – What’s Ahead?<\/h1>\n

By Gal Levy, Broker<\/em><\/h3>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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At-a-Glance Levels<\/h1>\n
\n\n\n\n\n\n\n\n\n
Instrument<\/th>\nS2<\/th>\nS1<\/th>\nPivot<\/th>\nR1<\/th>\nR2<\/th>\n<\/th>\n<\/th>\n<\/tr>\n<\/thead>\n
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Gold (GC)<\/strong><\/h2>\n

\u2014 Feb(#GC)<\/td>\n

4691.53<\/td>\n4759.97<\/td>\n4825.53<\/td>\n4893.97<\/td>\n4959.53<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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Silver (SI)<\/strong><\/h2>\n

\u2014 Mar. (#SI)<\/td>\n

87.36<\/td>\n89.96<\/td>\n92.74<\/td>\n95.34<\/td>\n98.12<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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Crude Oil (CL)<\/strong><\/h2>\n

\u2014 Feb (#CL)<\/td>\n

58.59<\/td>\n59.61<\/td>\n60.26<\/td>\n61.29<\/td>\n61.93<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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\u00a0Mar. Bonds (ZB)<\/strong><\/h2>\n

\u2014 Mar (#ZB)<\/td>\n

113 18\/32<\/td>\n114 7\/32<\/td>\n114 22\/32<\/td>\n115 11\/32<\/td>\n115 26\/32<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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The “Triple Lever” Stimulus and Economic Resilience from:<\/h1>\n

www.galtrades.com<\/a><\/h2>\n

\"triple<\/p>\n

Historically, new Federal Reserve chairs face an early “test” from the market. Data over the last century suggests that these transitions often coincide with a market correction averaging\u00a015%. While past performance is never a guarantee of future results, it remains a significant historical trend for investors to consider.<\/p>\n

The Coordination of Economic Levers<\/h2>\n

Washington influences growth through three primary levers:\u00a0fiscal policy\u00a0(taxes and spending),\u00a0monetary policy\u00a0(interest rates), and\u00a0credit policy\u00a0(ease of borrowing). Historically, these functioned independently and were often uncoordinated:<\/p>\n

    \n
  • Fiscal policy\u00a0followed congressional\u00a0\u00a0\u00a0\u00a0\u00a0cycles.<\/li>\n
  • Monetary policy\u00a0was the domain of an\u00a0\u00a0\u00a0\u00a0\u00a0independent Fed.<\/li>\n
  • Credit policy\u00a0was often the result of\u00a0\u00a0\u00a0\u00a0\u00a0disjointed regulatory decisions.<\/li>\n<\/ul>\n

    This year marks a shift. All three levers are currently dialed toward stimulus, reflecting a unified focus by the administration and Congress on accelerating growth ahead of the November midterms.<\/p>\n

    Analysis from Jan Hatzius (Goldman Sachs)<\/h2>\n

    On a recent\u00a0Exchanges at Goldman Sachs\u00a0podcast, Jan Hatzius noted several tailwinds for the U.S. economy:<\/p>\n

      \n
    • Trade:\u00a0Tariffs are no longer acting as a\u00a0\u00a0\u00a0\u00a0\u00a0primary drag.<\/li>\n
    • Consumer Support:\u00a0Tax cuts and strong\u00a0\u00a0\u00a0\u00a0\u00a0refunds are bolstering household spending.<\/li>\n
    • Business Investment:\u00a0Firms can now fully\u00a0\u00a0\u00a0\u00a0\u00a0depreciate equipment and plants, providing significant “physical\u00a0\u00a0\u00a0\u00a0\u00a0help” to the business sector.<\/li>\n
    • Monetary Policy:\u00a0Easing conditions are\u00a0\u00a0\u00a0\u00a0\u00a0expected to support a steady growth pace.<\/li>\n<\/ul>\n

      Hatzius does not anticipate a meaningful tightening in the labor market. However, he cautioned that a\u00a00.5% increase\u00a0in the unemployment rate is a historically reliable (though not guaranteed) indicator of an impending recession.<\/p>\n

      Corporate Health and Sectoral Trends<\/h2>\n

      While GDP remains strong, the\u00a0National Income and Product Accounts (NIPA)\u00a0profit report\u2014which covers a broader range of companies than just those on the S&P 500\u2014paints a more nuanced picture. Earnings growth there has been anemic:<\/p>\n

        \n
      • H1 2025:\u00a0Growth was in negative territory.<\/li>\n
      • Q3 2025:\u00a0Growth marginally turned positive.<\/li>\n
      • 2026 Outlook:\u00a0Investors are waiting to see\u00a0\u00a0\u00a0\u00a0\u00a0if this recovery gains momentum.<\/li>\n<\/ul>\n

        Currently, investors are rotating into\u00a0cyclicals, industrials, and materials. While manufacturing has faced a “sectoral recession” (as evidenced by the ISM Manufacturing Index), the broader economy’s strength relies on a resilient labor market and robust consumer spending.<\/p>\n

        Key Indicators to Watch This Week<\/h2>\n

        To gauge the trajectory of the economy and the impact of current policies, the following data points are critical:<\/p>\n

          \n
        1. Jobs Report:\u00a0Looking beyond the headline\u00a0\u00a0\u00a0\u00a0\u00a0numbers for the “fine print” on labor participation and wage\u00a0\u00a0\u00a0\u00a0\u00a0growth.<\/li>\n
        2. Productivity Data:\u00a0A key measure of\u00a0\u00a0\u00a0\u00a0\u00a0long-term economic health.<\/li>\n
        3. Import\/Export Prices:\u00a0Serving as a proxy\u00a0\u00a0\u00a0\u00a0\u00a0for the ongoing effects of tariff policies.<\/li>\n
        4. J.P. Morgan Healthcare Conference:\u00a0Often a\u00a0\u00a0\u00a0\u00a0\u00a0catalyst for movement in the biotech and pharma sectors.<\/li>\n<\/ol>\n

          If the cost of capital continues to decrease, we can expect a significant boost in the\u00a0housing and automotive sectors, further stabilizing the current expansion.<\/p>\n

          FUTURES:<\/h2>\n

          1.\u00a0Equity Futures: S&P 500 (ES) & Nasdaq 100 (NQ)<\/h3>\n
            \n
          • Fundamental:\u00a0Investors are pricing in a\u00a0\u00a0\u00a0\u00a0\u00a0“perfect growth scenario” driven by the coordination of fiscal\u00a0\u00a0\u00a0\u00a0\u00a0and credit stimulus. However, the\u00a0NIPA profit report\u00a0shows that\u00a0\u00a0\u00a0\u00a0\u00a0while public tech giants are thriving, the broader economy’s earnings are\u00a0\u00a0\u00a0\u00a0\u00a0anemic, creating a divergence between the “headline” and the\u00a0\u00a0\u00a0\u00a0\u00a0“foundation.”<\/li>\n
          • Technical:\u00a0The S&P 500 futures recently\u00a0\u00a0\u00a0\u00a0\u00a0tested psychological resistance near\u00a07,000.<\/li>\n
          • Support:\u00a0Immediate support sits at\u00a06,885.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0A break below\u00a06,730\u00a0would signal a “lower low,”\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0potentially confirming the 15% historical “New Fed Chair”\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0correction you mentioned.<\/li>\n
          • Resistance:\u00a0Bulls are pushing for a\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0sustained break above\u00a07,000\u00a0to extend the rally.<\/li>\n<\/ul>\n

            2. Interest Rate Futures: 10-Year Treasury Note (ZN)<\/h3>\n
              \n
            • Fundamental:\u00a0The “Fed Test” is\u00a0\u00a0\u00a0\u00a0\u00a0most visible here. The 10-year yield has jumped to\u00a04.29%\u00a0(the\u00a0\u00a0\u00a0\u00a0\u00a0highest since August), reflecting market skepticism about the Fed’s\u00a0\u00a0\u00a0\u00a0\u00a0ability to cut rates further while the White House pushes for aggressive\u00a0\u00a0\u00a0\u00a0\u00a0stimulus.<\/li>\n
            • Technical:\u00a0Ultra 10-year futures are\u00a0\u00a0\u00a0\u00a0\u00a0trading in a tight range near\u00a0114’085.<\/li>\n
            • The Play:\u00a0Traders are watching the\u00a0114.75\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0level; a failure to hold here suggests that bond markets expect\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0“higher for longer” rates despite political pressure for\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0easing.<\/li>\n<\/ul>\n

              3. Energy Futures: WTI Crude Oil (CL)<\/h3>\n
                \n
              • Fundamental:\u00a0Oil is under pressure due to a\u00a0\u00a0\u00a0\u00a0\u00a0projected supply surplus of nearly\u00a04 million barrels per day\u00a0by the\u00a0\u00a0\u00a0\u00a0\u00a0IEA. While geopolitical risks (like the “Venezuela Shock”)\u00a0\u00a0\u00a0\u00a0\u00a0provide temporary spikes, the fundamental “glut” is the dominant\u00a0\u00a0\u00a0\u00a0\u00a0narrative.<\/li>\n
              • Technical:\u00a0Crude is currently in a\u00a0bearish\u00a0\u00a0\u00a0\u00a0\u00a0descending channel\u00a0that began in late 2025.<\/li>\n
              • Key Level:\u00a0It is struggling to hold the\u00a0$60.00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0barrier. A confirmed close below\u00a0$55.00\u00a0opens the door for a slide\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0toward\u00a0$49.00, which aligns with a 160-year historical trendline.<\/li>\n<\/ul>\n

                4. Metals Futures: Gold (GC)<\/h3>\n
                  \n
                • Fundamental:\u00a0Gold is the star performer of\u00a0\u00a0\u00a0\u00a0\u00a02026 so far, acting as a hedge against “monetary instability”\u00a0\u00a0\u00a0\u00a0\u00a0and concerns over Federal Reserve independence. Central banks (China,\u00a0\u00a0\u00a0\u00a0\u00a0India, Turkey) continue to be aggressive buyers.<\/li>\n
                • Technical:\u00a0Gold recently smashed through\u00a0\u00a0\u00a0\u00a0\u00a0the\u00a0$4,550\u00a0level.<\/li>\n
                • Outlook:\u00a0It is currently\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0“overbought” but lacks bearish divergence. Analysts are\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0targeting the\u00a0161.8% Fibonacci extension\u00a0at\u00a0$4,712\u00a0for the\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0remainder of Q1.<\/li>\n<\/ul>\n

                  OUTLOOK:<\/h2>\n

                  Fundamental:\u00a0overall I think the equity market is overbought in the short term. The SPX broke the 50 DMA and closed below the average. In past corrections the 50 DMA was a buying signal, it will be interesting to see how this plays out this time around.<\/p>\n

                  Europe has been lowering short term rates for a while and the long term rates have gone up, will that scenario play out in the US markets as well?<\/p>\n

                  Trading commodity futures, Stocks, ETF, Bonds, Options and any other financial derivative involves a substantial risk of loss.<\/p>\n

                  The information here is of opinion only and do not guarantee any profits. Past performances are not necessarily indicative of future results.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n

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Introducing Cannon Edge \u2014 Your Daily Futures Snapshot<\/h3>\n

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:<\/p>\n