Daily Plan 9.20.23
Interest Rate & FOMC Guidance
Good evening, readers!
Today's session was truly remarkable, with the Emini, Nasdaq, and Oil all meeting my targets. Let's begin by discussing Oil and then move on to the indices.
CL maintained its upward momentum overnight, consistently finding support above the long level. This continued until it surged to hit the 92 long target, which marked the highest point of the day (HOD). After reaching this peak, the entire gain was gradually absorbed before the price descended and eventually closed at the long level. Interestingly, a similar pattern emerged in both the Emini and Nasdaq sessions. However, in their cases, it revolved around the short levels. Here are the detailed levels for your reference:
Both short levels were precisely at the HOD, while the short targets almost touched the lowest point of the day (LOD), encapsulating the entire sell-off. These price movements eventually reversed upon reaching my targets, climbing back up to the long levels. This was then followed by another selling wave downwards. The levels highlighted here are truly second to none! The consistency and accuracy of the results we witness on a day-to-day basis are nothing short of impressive.
As we look forward to tomorrow, the much-anticipated Interest Rate Decision coupled with the FOMC announcement is on the horizon. I've extensively discussed this in Flow State #44. I plan to incorporate the exact commentary from that discussion into this newsletter. However, we'll be calibrating and adjusting the levels in real-time, as we'll have a clearer perspective on the market's positioning at the moment of the release. This will ensure we're aligned with any potential shifts and are prepared for any market dynamics that might unfold.
Interest Rates & FOMC