Daily Plan 3.12.24

Welcome back everyone!

To hit this off, I want to point out that ORCL earnings worked in our favor breaking above the 117 target. Contracts will be up over 500% as the stock clears 130 in after hours. Now let’s shift our focus to the rest of todays recap.

Indices:

Many observed today's session to be very slow, with little movement. While this was largely true for most of the session, the Emini sold off right at the open from the 5180 short level, resulting in a 24 handle drop. On the Nasdaq side, it remained consolidating inside the LVN, which distinguished the long level from the short level. Many traders and investors are awaiting major economic data dropping later this week. Overall, today's session was decent, offering one solid window for execution.

Commodities:

Oil also experienced price fluctuations within the LVN, failing to make any significant moves above or below as expected. Even Gold remained stagnant, lacking continuation to the upside despite hitting another new high. Overall, I anticipate strong upward movements in these commodities very soon.

Stocks:

In contrast, stocks showed movement from the long and short levels posted the previous night. The standout was TSLA, which spiked directly off the 175 level, experiencing an 8 handle spike before giving back most of its gains by the close. AAPL and GOOGL both gapped up at the open, followed by a continuation of this trend shortly after, aligning well with the long level. However, all other stocks witnessed gap downs followed by continued downside movement, marking a complete reversal as these stocks had previously been on the rise while others were selling off.

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