Market Plan for December 12th, 2023
Ready for the fireworks?
Good evening folks,
Monday was a mild, choppy day as expected. We were unable to dip below SPX 4600, showing that sellers were weak. This was an indicator to enter long. We then rallied 20+ points during the session as we filled the upper portion of this broadening formation. This pattern has dictated price action for the last three weeks, and it’ll probably break now due to CPI.
So far, we’re following the expansion scenario from the weekly outlook. We haven’t dipped under our key level yet.
With all the events coming this week, how will tomorrow look? Will it be bearish, or bullish, or is it already priced in? Here’s my plan: