Market Plan for December 8th, 2023
Good evening folks,
Yesterday was a strong red day, and tons of shorts piled into the close. We only dropped a few points below that overnight and rallied heavily in the morning. We held 4550, ran to 4570, and went as high as 4592 before closing at 4583.
Although many others were outright bearish, I warned about shorting the range's bottom. I was even more bullish if it dipped overnight, actually. I expected 4565-4570 to be tested before the next major move, at the very least. From yesterday’s post:
The 4565-4570 area feels out of the question now, but we may get another test of it as well. There is a heavy amount of volume in this area, it’s a price magnet.
This was my bullish projection:
Tomorrow is a big day. NFP is releasing at 8:30, a major market catalyst. Will this finally break the range? Here’s my plan: