Market Plan for January 19th, 2024

Return of the bulls

Good evening folks,

The market had an incredibly bullish day as we rallied over 40 points from yesterday’s close. We opened at 4758 after an overnight rally. We were overbought at that point, so we spent the whole morning in a range. It had a bullish undertone overall. We then dipped to the 4745 area (great buying point) before shooting 40+ points higher to 4788.

In the High-Roller Room, we didn’t enter any trades all morning and patiently waited for the right opportunity. We bought 4745 and exited part at 4775, closing the rest at 4788.

It seems the bull move was inevitable. How do we end the week now? More squeezing, or back in the range?