Daily Plan 4/12 '22

Folks-

Yet again I was right in keeping bearish bias today per scenario 1 from yesterday as we opened below 4466 and kept the bearish pressure all day until I sent my tweets around 4424 that I did not see 4400 trade, atleast not today.

After that tweet, we did not quite take out 4420 and bounced around it a bit at time of this post.

Here is my plan from yesterday if you wish to check it. Weekly Plan.

Today is also the last day to get a 1 day trial to check out my post for free. Feel free to share this post with any one who may be interested in this weekly post. OFFER expires tonight.

Today was a pretty good breadth day where almost all sectors got clobbered.

This does not portend well for the days ahead IMO. With a key caveat which I will share briefly.

The implications of this day are major and they are not pretty. We are looking at a major major sell event if what I am about to say comes about. Now 4420.

Chart A Intraday EMini below..

Chart A EMini

Tomorrow is the CPI day.

I think there may be some overhang and the market may have an impulse move due to this CPI.

However, I expect this impulse may be down into 4390-4403. But it may get bought IMHO.

The implications of this NOT being bought are enormous as I expect a large scale volatility event if it is not. Any D1/W1 close below 4403 IMO will probably OPEN the door to 4200.

Therefore keeping this in mind and looking at the technical context, I am now leaning little bullish for a retest of recent highs at 4560. Here are my levels:

1. Scenario 1: If we open or bid above 4403 in cash session tomorrow, I want to lean bullish for a retest of 4466 in intraday time frame,

2. Scenario 2: Open or offers below 4403 may lead to volatility and targets 4360.

3. Emini trades around 4420 at time of this post. 4560 is where the next steps may be decided. To get there we need to overcome 4466 and also watch out below that there is no close below 4403. Ideally I want to see NQ trade above 14238 early in day.

Little early plan as I need to head out at close.

Enjoy and stay safe! Share this plan if you would like to reach out to more traders like your self.

~ Tic Toc

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