Daily Plan 7.11.23

Jul 11, 2023

∙ Paid

Good morning readers!

Yesterdays session for the indices would be characterized as choppy waters, making it challenging to navigate, particularly as stocks experienced significant price movements. The indices displayed a lack of upward movement until the overnight (OVN) session, providing some relief to bullish investors. Navigating these sessions has become increasingly difficult as trading volume builds above the 4400 level. However, by utilizing key trend pivot levels, it has been possible to avoid premature shorting. As long as the Emini continues to find support above 4400, I remain confident that bullish momentum will be sustained. It is important to note that if a trend pivot is breached, it would require a close below the specified levels, accompanied by substantial selling pressure, to confirm the validity of the breakdown.

Before proceeding with the remainder of the Newsletter, lets cover some notable predictions made yesterday. Both Apple and Microsoft experienced declines below their respective short levels but swiftly rebounded from trend pivots, as outlined in the Weekly Outlook. On the other hand, Nvidia and Advanced Micro Devices witnessed significant drops below their short levels, yet they still have further potential to reach their respective trend pivots. Considering that all these stocks have reclaimed higher prices during the overnight session, I anticipate a continuation of upward movement in today's trading session.