Daily Plan 11.15.23
Markets Close Higher - What's Next?
Welcome back everyone!
Today's session was remarkable, with both the Emini and Nasdaq surging to meet my targets, propelled by a cooling Consumer Price Index (CPI). This outcome was not only in sync with the anticipated levels but also aligned perfectly with my hypothesis about a cooler-than-expected CPI. My projections turned out to be somewhat conservative, given the massive rallies observed – over a +100 handle in the Emini and nearly a +400 handle in the Nasdaq.
Additionally, my long targets for Oil and Gold were met, with Oil reaching the High of Day (HOD) at my predicted level of 79.84.
Stocks experienced a significant surge, which led to substantial rallies in the intraday levels I posted last night. This aligns with the complete bullish stance I shared in Flow State #52, particularly regarding numerous swing setups. Home Depot (HD) soared to meet my Earnings Release (ER) target, marking this week as 2/2 successful ER calls! Contrary to many expectations, there was notable resilience within the energy sector, which played a crucial role in the swing setups I provided last Sunday.
It's important to note that some stocks I mentioned weeks ago have faced intense pressure, with a few stopping out in short positions, while most of the long swing positions are reaching their targets. I plan to delve into a detailed analysis of these developments in Flow State #53 this weekend.
I would also like to address the amusing comments on platform X regarding my 'doom and gloom' tweets. Today, I specified 4484 as a critical level for selling if breached, which remarkably didn't see even a single tick below after being announced! This clearly indicates the absence of sellers in today's market. Conversely, after witnessing the rally's continuation, I updated my stance, suggesting that the rally might be overextended and that Santa Claus has arrived early. On a swing basis, I firmly stand by this view and the significance of the 4484 level. These posts are what truly matter, and they demonstrate that on platform X, engagement seems to be driven by speculation about potential sellers. Interestingly, even as all my long targets were achieved, the tweets suggesting selling opportunities consistently garnered more attention. Moving forward, I will ensure clarity in the levels that need to be broken to avoid any confusion. Additionally, I hope to see more appreciation for these posts on platform X, as that is the only way I perceive recognition of my efforts.
As always, thank you for reading. Let's dive into my analysis for tomorrow!