Market Plan for February 1st, 2024
FOMC dump, market isn't happy...
Good evening folks,
The market had a negative reaction to FOMC, dropping over 60 points in a matter of minutes. We started the morning slow, and the market spent hours building a firm bottom. Once FOMC came we dropped, soared, then plummeted in the span of an hour.
In the High-Roller Room, we took the day lightly. I reduced my risk but had a long going into FOMC. My motto is “There are easier days to make money.” Very easy to get caught in the spiral of knife-catching and lose a massive chunk of your account.
Do we get an immediate oversold bounce tomorrow, or do we break back under the ATH break? Here’s my plan: