Daily Plan

10/27/21

Folks:

I was bullish coming into the session yesterday as we opened at 4577, above yesterday’s order flow pivot discussed here. At one point we traded as high as 4590 but retreated into 4560 after weakness developed around 4580 which was shared on my Telegram channel in real-time right before a move down into 4560.

Few thoughts for the intraday session today:

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Balance conditions are at play. I suspect this remains thru this week or at the very least Friday AM. AAPL earnings may be the big shaker tomorrow. Following are few levels and zones I am watching today:

1. Orderflow pivot is 4582. We are 4560 on offer at time of this blog.

2. Absent any intraday-day hourly closes above 4582, this level may cap rallies.

3. On downside, we may hold 4550. Next orderflow support zone is 4537-4541. AAPL earnings tomorrow is key before any large move in S&P500.

4. Thinking outside of the index for a bit, I do believe TSLA $982 and $AAPL $144 are key levels to defend against downside or initiate a sell off. TSLA has remained very active and may well spend a few more sessions here between 982-1044. Tesla closed below my 1024 yesterday which in it self makes me believe rallies may be capped . See below for my TSLA levels : 1024

5. TSLA is also quite correlated to #bitcoin . There’s been some volatility in crypto markets over night however a 5-6% average move is not uncommon for these tickers. I do expect shallow pullbacks in crypto this week, however, do not want to start losing 982 on TSLA, especially within Initial Balance (IB) period today.

   PS# I want to do a post on cumulative delta and opening range/IB for subscribers. These go together in analysis but technically quite different in how they are measured. LMK on Twitter what other things we need to add to the mix.

~ Tic Toc 🍀