/NQ (Nasdaq 100 futures) remains in an uptrend, for now, successfully defending uptrend line support since last night with a sell signal to trigger on a solid break and/or close below. While I suspect some or all of the upcoming FAAMG earnings will likely be the catalyst for the long-overdue correction, they also have the potential to trigger whipsaw signals, especially in the pre-market & after-hours trading sessions. /ES (S&P 500 futures) sell signal pending a break & 60m close below this uptrend line. All charts below are 60-minute time frames.

QQQ remains in an uptrend for now with a sell signal to come on a solid break & close below this 60-minute uptrend line with a minimum target of 217.70. Ditto for SPY (sell signal pending break below 60-minute uptrend line) while all marked support lines are potential pullback targets for IWM, should the large-caps (SPY & QQQ) both trigger sell signals on solid breaks below their uptrend lines soon.

Please note that I will be away from my desk today with analysis & trade ideas/updates resuming later this evening or tomorrow morning. I would also add to the comments above that while it would not be unusual to see some profit-taking (selling) in advance of the big FAAMG+I earnings reports that start to roll out this week, for the most part, the market is likely to grind around mostly sideways until those earnings reports are out of the way.

NFLX (Netflix Inc) reports earnings later today after the market closes (AMC) with INTC (Intel Inc.), the 6th largest component of the Nasdaq 100, reports this Thursday AMC with the Apple, Microsoft, Amazon & Facebook all reporting next week followed by GOOG/GOOGL the following week on February 3rd.