Daily Plan 6/1/23
Hey traders-
Here are a couple of good levels today from last night:
Starting with TSLA, I had expected support to come near 196 for a test of 205 likely. This was quite alright as the day's low in TSLA was near 196, and we almost traded up to 205.
We saw a good sell-off in NVDA from 411 to almost 375 today and a similar sell-off in CRM from 222 to about 207 at the time of this post - both of these had very heavy put volumes right ahead of the significant moves in these stocks.
While the likes of NVDA sold off today, INTC, which I had shared around 25 bucks rallied almost 10% to trade quite close to the 33 area today.
In S&P500 Emini, the day's low was just four-five ticks below the level I shared last night, and the high of the day was not too far off from my level.
Levels for tomorrow
CVNA
I like 11.3-11.5 in CVNA. It is now at 12.9. I think as long as 11.5 holds on CVNA , we could see test of 15-16.
Emini
Key levels in EMini will be 4150 and 4210.
Scenario 1: I think if we open and remain offered below 4210, we could test 4150 which may be supported for a move back up to 4190.
Scenario 2: If we are able to close intraday above 4210, we may be able to retest 4230-4240.
At the time of this post, we last traded 4186.
~ Tic
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