Daily Plan 6.7.24
Welcome back everyone!
First, we will cover the recap for today's session then move on to tomorrow's analysis.
Here is what was covered inside chat today:
LULU saw a rally on earnings with a sell coming in at the open, just like CRWD earlier in the week. I expected we could see a sharp reversal off the lows to potentially head right back above 340. Price fell short of this but offered a large move to contracts. Here was the chat sent out which brought in a net +164% to the highs.
Now lets move on to the rest of the recap!
Indices:
The S&P 500 E-mini Futures had a session characterized by significant volatility and multiple swings. The price initially fell below the short level of 5356.00, triggering a short setup. The decline was short lived and fell short of reaching the short target. After finding support, the market reversed direction and rallied, eventually reaching the long level of 5363.25, triggering a long setup. However, the price action fell short of reaching the long target.
The Nasdaq 100 E-mini Futures experienced a session of notable volatility with multiple intraday swings. The price initially dropped below the short level of 19024.75, triggering a short trade. The decline was minimal, but the price fell short of reaching the short target.
Commodities:
Light Crude Oil Futures experienced a dynamic session marked by significant early volatility. The price initially dropped below the short level of 73.96, triggering a short setup. However, the market found strong support shortly after and reversed direction sharply. The subsequent rally moved well past the long level of 75.15, demonstrating robust upward momentum reaching the long target. Despite some fluctuations, the price managed to sustain higher levels for the remainder of the session.
Gold Futures experienced a highly volatile session with pronounced intraday swings. The price initially dropped, finding support at the long level of 2379.7 and triggering a long setup. The market then rallied significantly, reaching the long target. After the peak, the price oscillated, showing multiple fluctuations but maintaining a generally sideways trend for the remainder of the session.
Stocks:
Apple had a session marked by notable volatility and significant intraday swings. The trading day saw the price initially hitting the long level of 195.74, providing an opportunity for long trades. However, the market experienced choppy price action throughout the session, reflecting a lack of clear directional bias. Towards the end of the session, the price dropped sharply, indicating a sudden increase in selling pressure.
Amazon had a session characterized by steady upward momentum and minimal intraday fluctuations. The trading day began with a dip that found support at the long level of 181.00, triggering a long setup. From this support, the price climbed consistently throughout the session, reaching a high of 185.00.
Microsoft had a session characterized by significant volatility and notable recovery. The trading day began with a decline, hitting the short level at 421.09 and triggering a short trade. However, the market found support soon after and reversed direction. The price then rallied strongly, surpassing the long level of 422.26 and continuing to climb.
Nvidia had a session marked by significant volatility and a notable recovery. The trading day began with a sharp decline, triggering a short trade as the price fell below the short level of 1215.44. However, the market found support and began to recover, rallying back towards the long level of 1219.36 but falling short of surpassing it by much. Then leading to another break of the short target bringing a sell right back to the lows of the session.
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