Daily Plan 2.23.24

Welcome back everyone!

As anticipated, NVDA continued its upward trajectory, reaching my 780 ER target, which then served as resistance for nearly the entire session. This propelled AMD to new heights, trading all the way up to 184. In the case of SMCI, it retraced back to 1000 after reaching a strong 730 level just two sessions ago, marking an impressive 50% rally in only two sessions. Some may question the validity of using Volume Profile, yet all these predictions were solely based on the profiles. These notable moves serve as a testament to the effectiveness of this methodology when applied correctly.

Additionally, the indices were poised to ascend further as long as semiconductors maintained their strength. As predicted in the video posted on Sunday, both the Emini and Nasdaq surged past the long targets.

What was particularly evident on Sunday that forecasted a strong move through the VAH on both indices?

The absence of volume above the VAH, coupled with a week filled with significant events, served as a catalyst for a robust surge through the highs. Had it not been for NVDA's earnings report this week, we wouldn't have witnessed the strength through highs as we did today. It was the combination of these factors that fueled this substantial upward movement.

Here is the Emini chart followed by the Nasdaq:

Many may wonder what to expect moving forward and how to analyze profiles when we find ourselves outside of all value areas. These questions will be thoroughly addressed in the following section, "Breaking Down the Profile," where I will delve into the precise factors influencing tomorrow's levels and why I believe they will play pivotal roles in dictating prices.

Now, let's review today's performance.

Oil experienced continued momentum from the long level, rallying up to the long target not once, but twice within a single session. Meanwhile, gold once again exhibited minimal movement throughout the session, although I remain steadfast in my belief that a significant rally is on the horizon for the coming week.

Turning to stocks, AAPL witnessed a sharp 2-handle rally, surging from the long level at 183.05. MSFT opened with a gap up and sustained its rally, mirroring NVDA's performance, and saw an upside of 9 handles from the 404 long level. META emerged as a formidable force today, boasting a 15-handle rally from the 475 long level. AMZN also showcased significant upside, largely driven by a robust gap up. Overall, AMZN managed to rally 6 handles above the 169 long level. However, GOOGL demonstrated weakness in this session, which I attribute to the controversy surrounding their Gemini AI. It seems they have developed an AI that is overly influenced by woke ideologies, much to the dismay of investors, as anticipated.

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