2/8 Recap
Yesterday's session was another tough one as the market sold down to 5 handles above my 4144 long before taking a 20-point spike higher to 4169. Unfortunately, we sold through 4144 twice, bringing in two trades that hit LIS. OVN reclaimed 4144 as I expected and traded as high as 4170, which came within 7 handles of my long target. This also fueled a spike in Tesla from 201 to a high of 209. As we look ahead, I think we have more volatility coming with a little more upside to test sellers near the 4190s. Although the past session was challenging, I'm optimistic about how these markets may move in the future.
Value Areas
3903 - 4042 / POC 3967
3825 - 3895 / POC 3864
4075 - 4172 / POC 4137
What is a bell curve and how can we interpret it?
Many have seen Bell Curves before which are how we interpret Volume Profiles. This breaks down Profiles into areas of value which are known as Value Area Low, Value Area High, and Point of Control. Using these values are one of the ways you can form a system to trade around. Using same concept of Bell Curve distribution, we apply these same values to Profiles which can vary depending on the timeframe being used. In Bell Curve terms these are known as the standard deviations.
Events
Jobless claims, little volatility
Earnings
Daily Plan 2/9/23
LEVELS
ES Long 4146 > 4175 / Short 4187 > 4156
NQ Long 12613 > 12743 / Short 12836 > 12686
SPY 0.00%↑ Calls 412.33 > 414.73 / Puts 416.3 > 413.36
QQQ 0.00%↑ Calls 306.1 > 309.05 / Puts 311.27 > 307.62
AAPL 0.00%↑ Calls 154.27 > 155.21 / Puts 153.51 > 152.34
TSLA 0.00%↑ Calls 205.24 > 211.37 / Puts 201.34 > 189.36
NVDA 0.00%↑ Calls 231.59 > 236.2 / Puts 224.95 > 216.46
MSFT 0.00%↑ Calls 272.98 > 276.64 / Puts 269.75 > 266.67
AMZN 0.00%↑ Calls 102.2 > 103.2 / Puts 100.92 > 99.75
AMD 0.00%↑ Calls 86.55 > 88.03 / Puts 85.68 > 84.29
-Flint
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2/8 Recap + Daily Plan 2/9/23