Weekly Plan 8/13
*squints* they are the same picture
Hello traders,
Hope you had a great weekend.
Let us recap last week’s plan
Weekly Plan 8/7
Hello traders, Hope you had a great weekend(I’m still reeling from mine) Last Friday, the market did a complete 180, with equities getting hammered in the final stretch of the day. The week closed at a low, a real punch in the gut for the bulls. Look at the numbers: SPX down 2.27%, NQ down 3.02%, and DJIA down 1.11% for the week. Powell's interest rate hike and the big earnings plays winding down are part of the story here.
Our weekly levels were spot on within 0.1 of the weekly highs and netted ample ticks for all traders.
Similarly with ES and NQ, both giving countless points on daily and weekly levels.
On the equities side, MPC 0.00%↑ calls went up 200% or more for last week’s expiry.
For more level based trades, you can peruse the twitter(in between all the memes you could find them)
Also, just this evening we had nice level based trades on ES.
Moving on,
This week is relatively less action packed compared to last week with only Jobless claims, FOMC minutes and retail sales.
Levels: