Market Plan for February 27th, 2024

End of the bull run or dip buying opportunity?

Good evening folks,

Just as expected, the market had a range day with a bearish tone. We stayed within a brutal 30-point range for most of the day, and slid downward after market close. Here’s what I said in yesterday’s post:

Dropping too far under 5050 would be deadly to the bull case. I don’t think a squeeze above Friday’s high is likely at this point either, so a choppy range is the most likely scenario on Monday.

As a result, we traded lightly in the High-Roller Room:

this the time to start swinging short, or is it simply another dip-buying opportunity? It’s not always easy to tell, but here’s my plan for tomorrow: