Market Plan for January 26th, 2024
ES and NQ divergence... what does this mean?
Good evening folks,
The market had a difficult and odd day as the S&P 500 and the Nasdaq ended with a divergence - the S&P closed higher while the Nasdaq closed red. We attempted to break 4900 this morning but failed and slowly dropped to 4871. In a shocking move, we squeezed 30 points in the last hour and tagged 4900 again.
In the High-Roller Room, we sustained some chop before entering long near the low this afternoon and catching the entire EOD squeeze.
Tomorrow is Friday, with PCE being the main event. Will it push prices higher, or will we chop & drop?