Daily Plan 1.16.25
Hey-
This is exactly the type of day I have been warning about why we cannot be bearish yet, until and unless we loose meaningful levels, like 5792. What do we see? A full 200 point ripper from those weekly lows.
I had some extremely potent calls in stock like TSLA 392 to 427, and especially in these quantum stocks where I was right in hindsight that there is some demand there. We have seen RGTI rise about 5 bucks from lows, but IONQ was another great runner today, rising from that 26 support I shared on Sunday into 39 dollars today. See below.
See below in META.
There are dozens of other names, like NVDA, Kinder Morgan, GEO, UBER, PLTR, PRM, TLT etc which I am not rehashing here.
My point is, I am here for you as a service where I share my opinions on which way the wind is blowing. Now from an execution perspective, you can decide what you do with this information.
ACN
My goal is to bring some ideas for folks where no one is looking at them at the moment. ACN is one such name where I did detailed DD in 2023. See below.
It is now pushing into 350. With all the anti immigration headwinds right now, this may push some companies towards hiring consultants instead dealing with W2s.
This also benefits from AI project implementation. These are super expensive consultants we are talking $350-$400 an hour.
I am raising my ACN target to $500 with support at 280.
Levels for tomorrow
Now with this close today near 6000, up 120 dollars from that daily level at 5882, you have 6034 on the top.
Then on the downside at 5922, you have this gap.
Scenario 1: For further bullish auction into 6100s, I like to see 6034 break on the upside. Until this happens, I favor 6034 come in as resistance for a move down into gap fill.
Scenario 2: On the downside, you have this CPI gap now near 5922, I like to see this tested and held, for a move back into 5983.
Remember what I said this AM about different types of participants and their goals. On top of that you have option sellers, spreaders, credit spread traders and so on. So the market will act very predictably around our key levels but that is not a guarantee that they will hold. I will say they are likely to hold but not sure to hold. I would if events of this last week or so are any lesson, subscribe to me for a year or two and see how it goes. Any education is good and orderflow education can be very rewarding.
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