Market Plan for October 31st, 2023

Halloween🎃

Good evening folks,

We had a great session, profiting over 35 points. I went long in the 4145 area, targeting 4180 and 4200. The high of the day was 4180.2. I’ve left a small runner which I’m still holding now, targeting 4200. Stop loss is in profit.

So far, our bullish scenario from yesterday is playing out:

If this is truly the bounce that will begin a short squeeze, we can’t drop too far below 4120 overnight. After 4120 holds, we can clear 4145, and end the day in the 4160s and higher. We don’t want to close below 4140.

Is this the beginning of a short squeeze? Here’s what I think: