Market Plan for November 20th, 2023
Good evening folks,
Friday was a rather odd and choppy day. First, we had opex, which naturally brings a lot of volatility. Days where options expire normally prevent large, clean moves. Second, we rallied heavily after the close on Thursday, which was an unusual move. We topped out at a high of 4526 before Friday’s open and spent the rest of the day chopping between 4500 and 4521 - a tight range that was difficult to read.
In The High-Roller Room, we avoided trading this volatile mess and simply held a long from Thursday’s low - this was a real trade:
Get access to the room here: https://whop.com/the-high-roller-room/
Friday’s close left us with a lack of direction/bias. We’ve now opened slightly lower. Is this the drop that finally ends the rally or do we have more upside to go? Here’s my plan: