Daily Plan 10/25/22

Traders-

If you have not yet read my plan from last night, I recommend that you do , to stay abreast of the continuous auction.

Here is a link.

The theme today was an extension of what we have been seeing from last few days. Last month, I was perhaps one of the handful who saw a new range form between 3550-3950 and today we are about a 120-130 points off this range high, having come off about a 300 handles from the lows.

We gapped up Sunday night, came close to the LIS last night but missed it by a few and at the open, I had a bullish tint into the market at 3760-3780, which we saw us float up to about 3825 towards end of the session, to close the day around 3800.

A lot many more of the names shared by me here in the Stack did well today:

1. UNH today closed in on that 550.

2. New highs in names like XOM

3. New highs in names like MRK

4. New highs in high yield names like the banks (BAC), O etc

5. AAPL trade up to almost 150 bucks today

Using OrderFlow, I stayed on the right side and not fight this tape.

Personally I do not know of many other publications like this which can share so many names across a diverse range of industries and sectors. This is what makes this one of the largest, if not the biggest Stack. If you have not already, consider subscribing and be part of this journal.

Tomorrow is also SPOT earnings

SPOT Daily

My LIS on this will be 92 dollars. I think if 92 holds, we could see 100-102 on this. Now 94 dollars.

ENPH

ENPH Daily

My LIS on ENPH will be 257-258. It is now around 253. I became bullish on this earlier at 180, before it moved to 300+ but now at 258, I will avoid and may consider lower in the 230s.

My levels for tomorrow

SPY Daily

My key level will be 3825.

Scenario 1: An IB close below 3825 could target 3790. A break of 3790 then may target 3750.

Scenario 2: An IB close above 3825 may target 3855-3860.

At time of this post, we last traded around 3800.

Personally, we are now about 320 handles above the lows set not a month ago.

With several key earnings tomorrow like MSFT and GOOG , I will be curious to see if we get to trade some of the weekly LIS around 3710-3720 again or not this week.

~ Tic

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