Market Plan for December 14th, 2023

Crash around the corner...

Good evening folks,

We had a stunning parabolic move higher as the reaction to FOMC was bullish. Over the last three days, we’ve moved up over 100 points. These past six weeks have been one of the fastest and strongest bull moves in recent memory. We’re very close to all-time highs.

Although I trade lightly during FOMC, I had a bullish bias this entire week. As I mentioned multiple times, I simply couldn’t see a way for the price to drop lower given the recent price action. We consolidated for three weeks and broke out of it on Monday. A three-week consolidation is a lot of time for bulls to build a base. The larger the base, the larger the breakout. We saw the climax of this today when we rallied nearly 70 points.

The market is going parabolic. This type of move is hard to catch, and even harder to fade. Does the market continue rallying to all-time highs, or do we drop heavily when everyone least expects it? Here’s my plan: