Market 'Crossroads' Forming: Jay Woods on Mag 7, Small Caps & Earnings

Freedom Capital Markets
Jan 22
1 min read

Schwab Network Morning Movers

22 Jan 2026

Brace for more volatility, says Jay Woods, making the case that a topping formation in the NDX can signal further downside. He suggests continued strength will come from earnings. Jay points to small caps in the Russell 2000 as the current leaders, so long as uncertainty rattles investors. As for the Mag 7, Jay tells investors to watch Meta Platforms' (META) earnings after last quarter's substantial sell-off. He also notes weakness in names like Tesla (TSLA) and Microsoft (MSFT).

Link to Video: Market 'Crossroads' Forming: Jay Woods on Mag 7, Small Caps & Earnings

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