12/27 Trade Plan
SPY
SPY
The Market Makers (MMs) weekly implied move is $5.91
Upper range = 479.56
Lower range = 467.74
The shaded area from about 458.32-454.31 is a heavy heavy volume area, and once we broke away from it priced squeezed higher. December’s current VAH sits at 471. The volume gets thin under 468.50, losing that area could result in a sell down towards 464-460.
We broke last week’s VAH today at 475.41 and we closed above it. 477 is the next naked POC on the weekly profile that has not been tested to the upside. If you are a bull here, you do not want to see price fail under 471.37. This would open the door down to 464.60. Above 477 we will probably test/break ATH at 479.98.
For tomorrow, above 475.80 I want to target those POC’s at 477 and then 478-478.70, these are the last levels before we see ATH.
Below 474.74 I want to target 473.92-473.32, and if we can get some continuation under this, I want to target 471.37-471.18.
I hope you all had a wonderful holiday break! I will be active in chat the rest of the week. Some of you have been asking about some swing plays to look into. I will be focusing on a few tickers like ADBE, TSLA, NVDA… etc if I see setups forming, I will be alerting here and in chat. I will be making a post covering a few of these tickers, if you have any requests, please feel free to drop a comment or reach out to me. I also want to focus on providing good setups for end of week/Friday lottos. Some really good swings can come from cheap premiums end of day Thursday into lotto Friday.
Happy Trading,
—WICK—
To cover our basis…
Welcome to my Substack where I provide a daily trading plan to help guide my intraday trading. The purpose of this letter is not to advise you on your trading or investment decisions. I am simply documenting my daily trading plan for myself to help with planning and execution. These are simply my opinions and the data sourced from the likes of vol.land, TradingView, Quantdata.us and others. The stock market is risky, gains are not guaranteed. This is not about getting rich quick but learn to educate yourself and make the necessary financial decisions on your own. This is not financial advice.
