A New Bull Run.
Daily Plan 5.14.26
Hey traders—
The bulls remain firmly in-charge, not ceding an inch.
Anyone bearish here could be right on direction but very wrong in timing.
What we need to see is some trades below these orderflow levels— soon. Else I think the tape looks robust for continuation. Once these levels I have break, we will have a very nice run to the downside and we will have many puts, until then I can’t be bearish.
For the session tomorrow I will lean on 7442.
If we test it and hold, I think we can make a run into 7480.
If I am to be bearish, I need to see 7442 gone and then we have that weekly formidable level to deal with afterwards.
In related markets, look at AAOI.
Super solid play which was first shared here at 19 and recently I reiterated long at 150.
The stock is now 220 and change. I think it looks about ready to move higher above 250. Lemme know what you think.
In other news, the PPI came in very hot and then you had the 30 year bond auction at 5%. A 30 year high, give or take.
With where the stocks are, I do not think this is fair. I think these yields need to drop. Once this war ends, hopefully soon, I think we see yields drop and TLT in my view looks nice here at 84. But could take some heat in short term. I like TLT as an asymmetric thing.
We last traded 7472 at time of this post.
~ tic
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