Daily Plan 2.27.24

Welcome back everyone!

Today's session was quite a snooze fest for both the Emini and Nasdaq. There really isn't much to cover here as volatility was limited in both markets. However, Oil experienced a sharp rally from my long level at 76.50, reaching the target of 77.88, just below the session's high. Although Gold fell short of reaching the short target, it dropped by 9 handles from the 2043.6 short level, which happened to be the session's high.

Turning to stocks, we witnessed a massive sell-off in GOOGL, which unfolded exactly as I anticipated in yesterday's video. The key target was hit, resulting in a 6-handle downside move all within one session. Similarly, AAPL experienced strong selling pressure, dropping by 2 handles from the 182.12 short level. Meanwhile, TSLA posted a monster rally from the 192.06 long level, the session's low. Price surged by over 8 handles to the upside, marking a significant move in contracts. Overall, other stocks exhibited similar price action to the indices, offering little to no opportunity throughout the day.

Beyond stocks and indices, we finally observed some COT Report setups developing once again. Ever since the 22:1 risk-reward trade on the Yen, the market has failed to offer any trades that caught my eye. However, today marked a change, with Corn (ZC) and Soybean (ZS) witnessing strong bounces off their lows. I anticipate this trend continuing for a much larger rally in the coming weeks and will ensure to keep everyone updated as time goes on.

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