Market Plan for January 25th, 2024

Progress is halted...

Good evening folks,

The market experienced its third choppy day in a row. Price is still in discovery mode as buyers and sellers attempt to establish balance above all-time highs. Bulls hit a milestone of SPX 4900 today and made a high of 4908 before dropping in the middle of the day and making a low of 4864.

In the High-Roller Room, we took a long at 4900 but scratched it for a small loss after choppy conditions didn’t improve. The market swiftly dropped soon after.

Direction isn’t so clear anymore. Do we shake this off and rip higher, or does it get more complicated?