Hughes Optioneering Team Market Update
Market Moves: Wild Starts, Big Gains, and What’s Coming Up
Hughes Optioneering Team Update January 23, 2026
Hey everyone! Blaine Markham with this week’s Chuck Hughes Optioneering Team market update. Here’s the gist:
- The week started wild—some political drama around Greenland and a spike in global bond yields made the markets pretty nervous. After a long weekend, stocks took a hit on Tuesday, but bounced back fast. The S&P 500 dipped below its 50-day moving average for the first time in weeks, but quickly recovered, which could be a good sign that the bull market isn’t done yet.
- The S&P is now just a few points away from its all-time high, and I think it’s heading for that big 7,000 mark soon. Other indexes, like the Dow and Russell 2000, are already hitting new highs. The Russell 2000, especially shot up this week, though it might cool off a bit since it’s looking a little overbought.
- The market got a boost after worries about Europe and tariffs (thanks to Greenland headlines) faded away following the Davos meetings. Basically, the worst-case scenario didn’t happen, and that’s what investors wanted.
- There’s a lot of action outside of tech now. Nucor (ticker NUE), this trade alert we sent out to our members was sitting on a profit opportunity of just north of 50% as it currently stands. If you want in on these alerts, call our team at 310-647-5664.
- Looking ahead: Next week is packed with big earnings reports and a Fed meeting (though no major rate changes expected). The indexes are all flirting with new highs, so we are keeping a close eye on technicals for more bullish signs.
That’s the scoop! I’ll be back next week with another update. Have a great weekend