Daily Plan 1.23.25
Hey-
Pretty slow day for the indices but our stocks did extremely well. Anywhere you look from NVDA, AMZN to PLTR to dozens more shared here in last month and a half. I mean a name like MRNA, with no end to the downside apparently is up 10% in 2 sessions.
On the index side, the volatility compression has occurred which really has been harder to trade on the intraday time frames for me personally.
This does not automatically translate to some major bearishness, we need to see some confirming signals first.
No major news on tap tomorrow but we always have the specter of Presidential tweets and comments now hanging overhead at all times. Now generally, if I don’t send out a Daily plan, I will send out a chat room update. This is because I am not expecting a major move in the session. Chat room is included for you for free. Use it.
With this said, I will lean on this 6100-6105 level as potentially important for tomorrow.
Scenario 1: I think if we hold 6100, we could be headed higher into 6150s.
Scenario 2: If we trade and remain below 6100, this could target 6077 orderflow support.
In related markets, I am watching this action in FUBO. I think if we hold this gap at 3, we could test recent highs near 5 bucks may be. It is about $3.5 now.
Some longer dated calls in FUBO even going out to May or so, for $5 strike are like 30-40 cents. Even 4 dollar calls are like 60-65 cents due to the IV being so low compared to 52 week values. If we see a decent sized move in FUBO from this 3-3.5 level, these could be decent plays as lottos.
As a side note, remember I will soon be splitting the publication in 2 - one for indices/common stocks and another one for options. I feel the quantity and the quality of our option levels has gone up substantially and this call for a dedicated space for serious traders.
~ tic
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