Daily Plan 5/5/23
Traders-
From last night’s plan, the main expectation was to see more softness below 4100 today.
Before we opened, I sent the below chatroom update to our subscribers. Chat room is included for free for all our subscribers and you can check the chat thru the app which is available on App Store or on the website as well.
Now how to read an update like this?
If I am sending this update before opening at 4100 it means I am personally expecting a test of 4060s at some point in the session.
At the same time, I am expecting a test and support of 4060s in the session.
The fact is the low of the session and the high of the session was between these 2 levels and there were several zippers throughout the day between these two levels. While it is true that every day is not active as this, this just shows that OrderFlow still works great but it only makes sense to send updates when the market gets hyperactive!
But you can encourage us to be more active by retweeting, liking, and sharing our posts. More interaction is always better than no interactions plus it gets the message of order flow to a wider audience.
I also shared an AAPL level only for the earnings which was hit at the time of this post. We moved from 165 to 170 upon that earnings call at the time of this post. On top of that good action at NQ level as well.
If you missed these updates today, install the app below and turn on notifications from me.
As Stack chat use has been more widespread, the real value is in the timely chat updates which are not available on any other platform. If you are not convinced then just ask someone who got into calls at 4100 or puts at 4060.
BTW do you find it weird too that we are seeing all these beats by major stocks like MSFT and NVDA, AMD, and big rallies in them and we can not even clear 420 on the Spooz?
This makes the index vulnerable in my view to a calamitous drop if these mega caps begin slipping.
My levels for tomorrow