Market Plan for January 10th, 2024

The squeeze isn't done yet...

Good evening folks,

Bulls had another squeeze day as we rallied over 30 points intraday, although this one was more choppy - it was a red indecision day on the daily chart. This is what was likely to happen, as I stated in yesterday’s post:

Moving forward, it’s unlikely that we see under 4700 anytime soon.

Trend days like this are major changes in market structure - they’re not something minor to avoid. The most common move after days like these are range/indecision days. The next most common move is a continuation.

In the High-Roller Room, we profited nicely once again for a net gain of 20 points, capturing most of the move long for the day.

Do we continue ripping higher, or is it finally time for a pullback? Here’s my plan: