Daily Plan 12.7.23
Welcome back everyone!
Today unfolded just as anticipated, with the analysis provided last night proving accurate for many stocks as well as the indices.
The Emini and Nasdaq both experienced rallies, reaching close to the long target I had set, but fell just short of my expectations before reversing and breaking through the short levels. The Emini achieved the short target at 4556, which was near the Low of Day (LOD), while the Nasdaq fell short of its target but still offered ample downside for the session. Both indices fluctuated within the range defined by my long and short level thesis.
Oil, continuing its recent trend, gapped down and hit my short target, providing another +200 pips of downside. Given this recurring pattern, I will be closely monitoring for a potential break above the long level, which could signal a squeeze session.
Gold, in contrast, gapped up and remained strong throughout the day above the long level, indicating a shift from the recent selling pressure. Although it didn't quite reach the long target, I am expecting a significant upward movement in the days ahead.
Stay tuned for the remainder of my analysis, which will be focused on tomorrow's session. Three stocks are reporting earnings, and I have already formulated a thesis for each. Additionally, my analysis has covered the Emini, including an in-depth examination of the volume profile setup for tomorrow. This analysis will provide valuable insights into potential market movements and key levels to watch, helping to inform trading strategies for the upcoming session. Understanding these dynamics is crucial, especially in a market environment characterized by rapid changes and high volatility.
Breaking Down the Profile
S&P500 (ES)
