Market Plan for September 12th, 2023

Is this the end of the bounce?

Good evening folks,

The bounce continued today as we went from 4475 to 4490 overnight. At the open, we had a quick bull trap before dropping back down to 4475. Once at 4475, we began forming a base before climbing back up to 4490, going all the way to 4498. In the last two hours of the day, we had practically zero movement.

Our targets from yesterday worked great. In fact, the same move happened twice!

If we break above 4475, we are targeting 4483, followed by 4490.

This happened in the premarket, and then once again after the open. I caught this move both times with no hesitation.

Here’s yesterday’s projection based on our key level:

Today’s results:

Does this bounce have enough juice to continue climbing tomorrow? Will it retrace? Let’s create tomorrow’s plan to find out: