Daily Plan 1.11.24

Welcome back everyone!

The Emini and Nasdaq both reached their lows, with the Emini at 4788 and the Nasdaq at 16817, representing their respective support levels. As most of you are aware, I also provide SPY levels for options traders, and these align with the Emini, or you can compare them to the SPX, depending on your preference. The Emini hit my target of 4816, resulting in a net gain of +28 handles above the long level, while the Nasdaq gained +160 handles in total.

Oil came close to reaching its long target of 73.80 but fell just short, offering a substantial +144 pip rally above the 72.16 long level. Conversely, Gold spiked above the 2033.8 long level, continuing its upward trajectory and hitting my long target at 2046.5.

Moving away from futures, let's shift our focus to the stock levels posted last night. First and foremost, let's discuss Apple, which has experienced a parabolic intraday rally, surging above the long level of 184.82. Microsoft, Amazon, and Meta also witnessed remarkable rallies above their respective long levels, presenting incredible risk-reward opportunities for option contracts with gains exceeding 100%. On the other hand, Tesla and Advanced Micro Devices remained relatively subdued throughout the session, a departure from their recent strong performances in recent weeks.

Now, let's dive into the rest of my analysis for the upcoming session!