Daily Plan 11.1.23
Markets Close Higher - What's Next?
Welcome back everyone!
PFE and AMD turned out to be somewhat disappointing, failing to exhibit the substantial moves I had anticipated. In both cases, there was a resurgence in buying interest that retraced the initial selling pressure. While with PFE, there was an opportunity to take profits right at the opening bell, AMD retraced its sell-off shortly after reporting its earnings after hours.
Conversely, CAT experienced a significant sell-off, plunging all the way down to my target of 224, which also marked the day's low (LOD). This aligns perfectly with my weekly target expectation set at 220, as detailed in the Momentum Gallery section. This dramatic move resulted in almost 30 handles being shaved off, providing a strong boost for Put options and yielding over a +10% return on common shares.
Additionally, MPC released its earnings report, triggering a substantial rally that came close to reaching my target of 157. It appears that there is still room for further upside potential later in the week, so I wouldn't rule out the possibility of hitting that target by the end of the week. In summary, today's earnings results yielded a 2/4 success rate, offering ample opportunities for those who followed my bull/bear thesis outlined on Sunday. Here's what I posted for today's (Tuesday's) session:
Next, we witnessed a substantial rally starting from my order flow level on both the Emini and Nasdaq, pushing the prices right up to my target of 4209 by the closing bell. Although Nasdaq fell just short of my target, landing at 14548, it still delivered over +100 points on the upside. Meanwhile, Gold hit my short target of 1993, and Oil came close to my target, just falling short but still yielding over +200 pips of downside below my designated short level. The newsletter continues to provide an abundance of opportunities, and I believe it's improving with each passing week.
In the near future, I'll be sharing all the statistics related to the calls made, offering a more in-depth analysis of the provided insights along with the results. Your readership and dedication to improving your trading knowledge bring a genuine smile to my face every day. Teaching has always been my passion, and witnessing your commitment to learning is truly amazing to me.
Now, let's shift our focus to the remainder of the plan for tomorrow's trading session!