Daily Plan 12.15.23
Traders-
Tremendous action in some of the names shared by me in last few days. I always use this platform to share my views on both intraday emini S&P500 as well as stocks like GME. This content is 100% exclusive for paid subscribers and no one else gets it faster than this.
So what are some of these examples?
Let us start with PLUG shared by me around 3 bucks and it is now pushing 5.
Or OPEN which was shared only this Sunday which is now pushing 5, having risen about 33% this week.
What about my call in RIVN shared just a couple weeks ago around 15 which is now 22.
Or WBA near 20 (now 25)? Or an ADM near 70 (now 77)?
GME near 15, now around 18.
How about my bottom call in VFC near 13 bucks which now clears 20 within weeks.
What about oil at around 67 which is now pushing near 72. Including good action in XLE.
Even on Bonds side, my call in TLT at 80 bottom now nears 100 dollars.
This is not counting my calls in crypto arena specifically in MARA and COIN.
There are several more and the complete list is shared with folks here who are subscribers and friends of this publication.
On the emini side (SPX), I personally am not a big fan of this action this is why I have been on a little back footing when it comes to actively sharing my views on this intraday. There is obviously not shortage of buyers here, else we will not be here at 4710. However, I am not yet able to square this with lot of other proprietary factors, for instance the bond rally. I am in holding pattern to see if something super interesting appears on SPX side which I have frankly not yet seen.
For instance, if you look at TLT as bond proxy and the SPX, both have had good rallies, however TLT performance has been objectively better. I think this can persist and I think the bonds stand to gain more than other competitors if the FED is in earnest about to embark on rate cut regime in March.
The list I shared above came out in last 2-3 weeks alone. So there is really no shortage of good ideas, and I am not going to make calls just for sake of it if I can not back it up with hard technical setups.
Generally this range between 4600 and 4710 (SPX) is in no man’s land for me.
Few thoughts for the session tomorrow..
One thing I found quite interesting was the action in TSLA which closed about a dollar above 250. I think this thing can have legs if we begin to see continued support in the emini index above 4760-4770. It is 4770 at the moment.
However, I think if we begin to see emini slip below 4760, then I doubt TSLA rally holds.
With this said, 4760-4770 remains my main level tomorrow as well.
Scenario 1: I think if we remain below 4770 in the cash session, I favor a test of 4730. This corresponds to about 4720/4680 on the SPX.
Scenario 2: Bulls want to see us remain above 4770 to make a push back into 4790 from today.
Due to rollover today and the FOMC yesterday, the range itself has been quite large and choppy directionless. I am hoping to see an end to the choppiness tomorrow with rollover behind us and I think the moves can be cleaner now.
Have a great weekend!
Few folks asked me about how I scan for ideas like OPEN before they explode higher. I am sharing some screener settings I myself use as educational reference below.
~ Tic
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