Powell Comments Could Shatter
Daily Plan 11.8.23
Hey-
Hope every one had a great day.
I shared the below update with my subscribers this AM. The low of the day was indeed very close to this level.
A few hours later we traded up to my targets. About a 40 point rally.
Such updates are available to all subscribers but must have chat room installed and notifications enabled.
The backdrop of session remains a lack of volume, and hence the short squeeze nature of this rally.
I do think sentiment is a bit on the negative side. This is why I am hesitant to call an end to this short squeeze personally.
My levels for tomorrow
So, here is the deal. I shared my views on Powell in my weekly plan on Sunday. I am not going to rehash that, if you have not, go back to archives and read it.
But the bottomline in my opinion is that if Powell comments cause a sell off, this sell off could be supported.
I am personally liking this action in AAPL and MSFT. This could mean a little more juice to squeeze on main index as well.
AAPL for example is 182. I shared bullish level at 168. I think it can trade up to 187-190.
Anyways, for tomorrow my key level will be 4340.
Scenario 1: Any dips into 4340 could be bought in my personal view to target 4400.
Scenario 2: If I am a bear here, I like to see some intraday closes below 4340 to get some volatility going, else I think this low volume churn could last a few more sessions. If we take out 4340, I may share an update in chat room. Stay tuned.
At time of this post, we last traded near 4395.
~ Tic
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