Daily Plan 1.30.24

Welcome back everyone!

Today's session once again proved to be phenomenal, with the Emini reaching the long target of 4930 after finding support at the 4906 long level. My initial target was set with the intention of buyers retesting the VAH at 4932, and indeed, we witnessed a massive 8-handle spike once we broke above that level. Notably, the Emini delivered a strong performance, and the Nasdaq followed suit. It took the Nasdaq the entire session to move above the long level at 17601, but we saw a substantial spike in the last hour of the session. This spike came just short of reaching the long target at 17742, demonstrating once again the reliability of these levels.

While many traders stepped away from the session, it was crystal clear that a significant move was underway. Beyond the indices, Oil encountered resistance at the VAH, as I discussed last night. Ultimately, it sold down through the 77.14 short target, resulting in a +100 pip selloff. Shifting our focus to Gold, we witnessed a robust rally, initially reaching the 2033.2 long target early in the morning before retracing back to the long level and finding support once more. I issued an update, expressing my anticipation of another upside move, potentially breaking the session highs of 2037.

In contrast, stocks experienced massive rallies this morning, primarily emerging from the long levels, many of which coincided with the VALs. Furthermore, I accurately predicted AAPL's weakness due to the pushback of iCar news, and this prediction materialized precisely as anticipated. It seems that everything aligned perfectly in today's trading session.

Now, let's dive into the analysis for the upcoming week!