Market Plan for November 17th, 2023
Good evening folks,
It was another choppy session in the markets. As I’ve been saying all week, we need a few days of consolidation before our next move. When a move like CPI on Tuesday occurs, it takes a while for the market to digest. This is why I went long when we dropped to a low of ~4490 today and it “looked” like we were about to crash.
We’re trading around 20 points higher now, after an unexpected surge after the close. This was an unusual move, and difficult to read. Is it a sign of bullish strength or bullish exhaustion? Here’s my plan: