Daily Plan 1.5.24

NFP Day

Hey guys-

A quick recap of the session.

My primary bias was to see more selling today as long as we held that 4760-4770 area.

This was a good call as we slid down past 4730, only to close a few handles above 4720.

The best call really from my perspective was in MARA from my weekly plan with respect to MARA. I shared 20 level as support and within a session or two, we rallied about 30% from this level to close near 26. The main risk I see with these small stocks is a risk of offering. This is why I am hesitant to be bullish on these here atleast around 26-27. I will feel better about these if we take out 27 on upside. Until then I will be curious to see if this stock can sell back to 20 handles again.

For tomorrow my key levels will be below:

4711-4715 and 4760. At time of this post we last traded around 4730.

Scenario 1: Dips if any into 4711 could be bought for a test of 4756-4760.

Scenario 2: 4760 for now remains a resistance level for me unless I begin to see some closes above it. As long as that does not happen, I think this level could remain a supply zone for a test of my annual level around 46XX. On intraday time frames, this translates to 4711 breaking to expose the stops below into 4600. A close below 4711 could turn out to be a volatile event.

TSLA