Weekly Plan 1/8
Surprise inflation print?
Following the exuberant close to 2023, the first week of 2024 witnessed a risk-off sentiment permeating the markets. This anticipated retrenchment proved profitable to my followers.
I have been sharing some SPX options trades on twitter but however our bread and butter is trading ES, NQ, CL & GC.
Just this evening we caught a 50pt NQ trade based off our levels.
Also, I was recently interviewed by
Now to the question on everyone’s mind?
”Can we trust bears now?”
On Thursday night our last line of support was 4704 and bears couldn’t push us below it for more than 20 seconds.
One of the ways bears can push the index down is if VIX goes beyond 15 and all the dealers short vol would need to cover & possibly cause a liquidation on ES & NQ.
This is an if-then-else situation so I would not pay too much attention to it until the CPI print.
Moving on,
The market seems like it is poised for further volatility, potentially reaching