Daily Plan v2146.1

11/8/21

Traders:

A quick recap of Friday, what we expected versus what we got.

1. I was bullish at the open expecting continuation of upside when we opened ~ 4693. This was reiterated by my pre market tweet at 4693. As soon as we opened , we bid up to 4712 and then cooled down.
2. Once we started the intraday downtrend, the logical targets were levels from Thursday. My Friday plan called for any dips into 4675 being bought with my LIS being at 4669.
3. Selling exhausted 🥱 into my 4675, in fact 4673 was low of the day (LOD)
4. We shortly retraced all the way back up to IB low after finding buyers at 4675.

In case you missed the plan from Friday, you can review it here: Daily Plan 11/5

What am I expecting for tomorrow ?

1. This is the most subjective part of the equation where I use my levels , order-flow and market activity from Friday to string together few scenarios for Monday’s RTH session.

The following are two intraday scenarios I will be watching : 

2. For intraday time frame, my order flow pivot is 4695. RTH open or bids above 4695 targets Friday highs 4710 and beyond.
3. An open below 4695 or any offers made below 4695 may target my order flow levels from Thursday. That’s 4675 and 4668.
4. I expect these levels to absorb selling . However in case they give up, next order low support comes in at 4647.
5. S&P500 emini bid 4690 at time of this publication.

I also made few changes to my Tic TOP 20 list. Details will be shared in tomorrow’s newsletters, however here’s a quick summary of the changes. 

Specifically, travel e-commerce did very well this week. BKNG given by me at 2500 shot up almost as high as 2650. 

ABNB given back at 144 also doing quite well now $202

AMZN given at 3340 now 3520 does well and I expect may do well going forward.

LCID also did very well given at 37, up more than 10% now $42.

~ Tic Toc 🍀

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