Daily Plan 10.4.24
Alright folks- what an amazing session for active traders today- for most part between the 2 levels shared last night. This is where these levels shine- we had lot of folks who got longs at 5770 and a lot more that got stopped on the shorts at 5742. Not our folks.
Several other recent winners making new highs-
OXY clears 55 shared at 50. Massive rally in oil from that 66 support, now 74.
Lamb Weston now up a healthy 40% from that $50 support shared.
PLTR set to clear $40.
Clean rallies in NVDA and SMCI from those levels shared a few days ago.
TSLA- as expected, sold down into 230s from that 250 Line in Sand.
Tremendous new highs in APP shared at 110.
New all time highs in META, and HD.
Dozens more.
Levels for tomorrow
For the session tomorrow the 5715-5722 range remains in focus.
With the key Non farm payrolls data tomorrow, I think if we remain above this zone, we have seen the swing lows here around 5722. I think if we hold this zone tomorrow, we may be headed back to 5830 area.
Scenario 1: I think if we open and remain above 5715-5722, we may want to retest 5770 area. If we are able to break 5770 in the session, I will like to see support at 5748-5749 for a move back into 5772-5782, if tested.
Scenario 2: For further bearish raid into 5670 area, I will like to see the market open and remain below 5715.
Lotto
NVDA $125 Call for 10/4 are 50 cents and I think they make sense for lotto, as long as we see general market remain bid above 5715.
~ tic
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