9:27am Eastern - Yesterday's daily candle in the SPY was a doji candle. Usually, that can be a sign of a potential trend change. Also, a sign of some indecision. But the trade volume was low, so it has less meaning. In the premarket, with about 15 minutes until the opening bell, price is above yesterday's high and the top pf that axis area we had on the board yesterday. That is still bullish at face value. But if price gets below and starts closing hourly below 709.68, the bears have a better chance of pulling price down.

That being said, the DJT was still abnormally strong yesterday. Another huge up day, closing at the highs. That was after an initial small pullback right after the opening bell. Timing is right in the transports for them to do something different - like maybe put in a reversal candle today. This is pure speculation, but it can happen. They won't keep defying gravity and go up forever like this. And today marks a cyclical timing thing where, if upside targets are hit, profit-taking and big selling can happen soon. Nothing to trade against - just something to keep an eye on. If the transports reverse, the SPY will follow.

The timing is the same in SPY - and you could call the doji candle from yesterday a signal of a possible trend change - so today could get interesting. We have levels all over the place where bull/bear battles are likely to happen. The axis level is 709.68, leftover from yesterday. We said they weren't tradable levels by default yesterday, and I'm inclined to say the same thing for today. But at least one of the axis levels from yesterday would have provided a good trade. Trading against 709.68 today is fine if other confirmations are present if/when price interacts with that level. And as always, it's good to understand what price and time are doing on the longer time fames before getting into any trade at these levels.

See notes at the bottom of the Tracking Log below to see how the levels worked for today. The data you see in the Log below represents all of 2026 to-date. The rate of return and other metrics assume a starting balance of $50,000 on January 2, 2026, and two (2) ES contracts traded at each level each day, following all the rules of the Ticks & Trades strategy.

Click anywhere on the Log to enlarge the image.