Market Plan for January 16th, 2024

Well... what now?

Good evening folks,

Last week was volatile, as both bulls and bears fought to defend key supports and resistance levels. Monday drained most of the volatility for the week with its 80-point trend day, and what followed was a successful defense of both support and resistance, resulting in a range for the rest of the week.

Friday was the least active day of this week, as we chopped on both sides and had very little tradable action. In the High-Roller Room, we only closed our runner from yesterday and let the market chop around before a three-day weekend.

Here’s my plan for tomorrow and my thoughts for the week ahead: