Daily Plan 1.24.24

Welcome back everyone!

Last night's thoughts, as posted on the Emini, were proven to be correct, as the support level was accurately identified. This support level propelled the price all the way up to the long target of 4900. This successful prediction underscores the accuracy of my analysis.

Between the long and short levels, there is a Low Volume Node (LVN) that will dictate where I will look for continuation higher or a break below for a sell-down to the swing value area high. The long level will be set at 4877, with the target remaining at the 4900 resistance from the previous session.

The Nasdaq also aligned with this thesis and found support; however, it fell short of reaching the long target. Oil, on the other hand, remained above the long level throughout the day, while Gold attempted to sell lower but failed, experiencing minimal upside during the session.

Stocks, meanwhile, delivered a remarkable performance, with earnings making a significant impact. Both VZ and LMT witnessed impressive gains of 500% on this week's contracts, while MMM saw an astounding 3400% increase in price, resulting in a substantial daily gain. While earnings announcements can lead to significant market movements, it's important to note that this was an exceptional outcome. It's advisable not to approach future earnings releases with larger positions. Earnings setups are generally similar, so I recommend maintaining equal position sizes until your account grows and the dollar risk increases while the percentage of your account remains consistent.

I'd like to mention that I've been unwell for the past three days. I will make every effort to remain active on X, but in case I'm unable to, you will continue to receive this newsletter each night. I want to express my gratitude to everyone who sent well wishes for my recovery; your support is truly appreciated.

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