Daily Plan 4.23.24
Folks -
As expected, a sharp rally in stocks today from my weekly lower levels to trade as high as 5080 at one point in the session today.
Many other tremendous recent calls like the ones below -
LULU closed back above 360 today.
About a 10% day in GCT today.
Massive action in NVDA stock today. It traded up to a high of about 801 today from the lows sub 770.
These were all shared with subscribers yesterday last night.
Sharp rally in BMA today, about 7%, rising from the 46 level to close near 54 today.
Levels for tomorrow
Good action in the index today and my key level comes down to 5026-5030 tomorrow.
Scenario 1: If we hold 5026, I think we may be able to retest 5080 recent high from today..
Scenario 2: If I am a bear here I need to see intraday close below 5026 now. I think this may elude us until some of the bigger earnings hit the tape on Wednesday and beyond. Like META on Wednesday and MSFT on Thursday. But more on this later after tomorrow. We are now trading about 5040.
I will share my views on MSFT later in a day or so. However suffice to know that margin of error for MSFT is very small. The AI spend has to show up for them now. The valuations are quiet in line with their long term valuations which I would say are day and night from something like TSLA, which is selling at a deep haircut from its long term valuations.
Have a great day ahead.
~ Tic
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