Daily Plan 12.5.23
Hey traders-
Pre open I shared below levels which I thought were quite decent.
If you have not already, subscribe to get exclusive levels almost every day. Now chat can not be every day, but there are times when there are stars in alignment, like today.
Several other great calls like PLUG which folks can read in archives if interested.
My levels for tomorrow
My key level tomorrow remains 4584.
Scenario 1: As long as we remain below this key level, I think we can remain under pressure and can test recent lows near 4540.
Scenario 2: For bulls to get back in the game, I will like to see them take out 4584 to target 4610.
At time of this post, we last traded 4575.
Main issue I am seeing with bullish here around 4600 is the general weakness in commodities as well as relative strength in the Dollar.
If we begin to see a meaningful crack in commodities from Cattle to oil to metals, I think this could give Dollar a boost and the equity markets may not like that a whole lot. Then you look at mega caps like AAPL which are in a 15-20 day balance, so once this balance breaks, I think we should see much cleaner moves.
~ ttt
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