Flow State #47
Welcome back everyone!
Previous Week Recap
I have initiated the practice of sharing a spreadsheet detailing all the market swings I'm monitoring within the "Momentum Gallery" section. Out of the 23 stocks under observation, an impressive 11 have successfully reached their target prices. At present, 10 of these stocks are moving in our favor, one has experienced a stop-out, and 2 are yet to breach their entry levels. This remarkable performance serves as an eye-opener for traders across various timeframes, demonstrating the effectiveness of the volume profile not only on an intraday basis but also on longer timeframes. These swing levels hold greater significance compared to weekly support or resistance levels found on profiles, providing more flexibility for capturing substantial market movements.
The stocks that have achieved their target prices include: TMUS, CL, ORLY, CMSCSA, TGT, MCD, HD, VZ, KO, LMT, and META. One remarkable standout among these winners is LMT, which surged higher today, largely attributed to the ongoing conflict that has grabbed headlines worldwide. While many were planning to invest in war-related stocks over the weekend, our readers were already strategically positioned for an upward move before any such conflict emerged. This illustrates the power of Orderflow when closely monitored over an extended period, allowing us to anticipate market movements and, in a sense, call a catalyst before it even materializes.
We have new setups poised for substantial price movements, which will be added to the existing list from last week. Make sure to stay tuned for these exciting opportunities!
On the flip side, as I had predicted, the indices have experienced an upward squeeze, with 4250 remaining a robust support level throughout last week, except for the overnight sessions. My upper range target of 4380 served as resistance for the week, reaffirming the remarkable accuracy of these Orderflow levels. Even the newly incorporated COT (Commitment of Traders) reports have proven their worth, particularly in the case of Oil and Natural Gas. For instance, Commercial traders in Natural Gas began reducing their short exposure late last week, causing a surge in prices as these shorts covered their positions. This shift in sentiment from short to long positions propelled prices higher as we broke through key resistance levels. While I won't be posting the COT reports themselves, I will be sharing the insights I derive from them in the weekly Flow State series.
I won't provide a detailed recap of each intraday session posted, but I highly recommend studying last week's plans and aligning them with the price action during those sessions. Many instances occurred where we witnessed substantial moves, from the lowest point of the day (LOD) at long levels to a sharp spike up to long targets, ultimately becoming the highest point of the day (HOD). Contracts for the stocks I cover on a daily basis delivered remarkable returns, with META posting over a 10,000% return on the Friday bounce. Once again, Orderflow levels identified a massive upward movement, and we anticipate more such opportunities this week.
Now, let's delve into my insights for the upcoming week, as there are several significant events on the horizon, including PPI (Producer Price Index), FOMC (Federal Open Market Committee) Minutes, and CPI (Consumer Price Index).