Daily Plan 4.2.24

Traders-

Look at this level and call from the plan last night folks.

Now look at the overnight high and the intraday high today. Barely a few ticks above my level, before a 50 point sell off in the Emini index. This level of accuracy and preciseness is quite rare and I am happy to be able to share such levels with folks almost daily.

Now if you notice, when we opened the Globex session last night at 5, there was a very brisk rally. The rally continued up until this level and then stalled as if it hit a brick wall.

Levels for tomorrow

Today was a bank holiday for a lot of Central banks and as a result volume was a bit low.

Now this level I shared almost 2 weeks ago remains a key level for me. With volume coming in tomorrow, I am hoping we break out of this rut.

Scenario 1: If we are able to break 5270 and remain below it, I expect a test of 5230/5240s. I think we could see support come in at these levels for a retest of 5270. At time of this post we are last trading around 5295.

Scenario 2: This whole zone between 5270 to 5300 is a bit of gray area for me at the moment. I think if we remain between these 2 levels, we could see more balancing unless we break out and close above 5300 or break below and close under 5270. Refer to the weekly plan about significance of 5230 area.

~ tic

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