Market Plan for February 8th, 2024

SPX 5000, but uneventful

Good evening folks,

It was a historic day in the market as we tagged SPX 5000 (or very close to it, depending on your broker). We ran 20+ points at open before stalling right under 5000 and ranging there all day. There were not many opportunities within this tight range.

In the High-Roller Room, we didn’t open any new positions. There weren’t many intraday opportunities. I only closed the long that I was holding from the 4920s on Monday.

Now that we’ve hit SPX 5000, where do we go from here? Do we keep trending higher or blow off? Here’s my plan: