January 12, 2024 SPX, SPY, ES Trade Plan

Market Recap

Hello team and what a day to be a bear and bull. We had amazing two way action in the market and guided you in the morning to the downside mentioning 4795 a critical level to continue above and go to the upside and that once we lost 4785 it would start a larger sell campaign. We got exactly that where we went as low as 4740 - triggering every bearish bias trade idea in the plan.

We then sent updates in the chat room that if 4760 held we would then target 4785 and that would be the top on that pullback. After consolidating around 4750 for a little while we got exactly that move pushing price back to 4785 before it found resistance to close the session.

If you haven’t had a chance please visit our chat room to see it for yourself. We opened the chat room for all members the past 2 days to provide you the type of insights and guidance on the trading session. Not sure there are too many services especially ones charging you over $100 or even $200 a month giving you that kind of guidance.

Let’s jump into our trade plan.

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Here is an updated view on the AAII Sentiment Survey which offers insight into the opinions of investors and where the market is heading. The survey is conducted weekly from Thursday at 12:01am until Wednesday at 11:59pm. Lots of bulls still out there…You basically want to fade this chart in summary…

Back to green on the BPSPX…swing trade is forming folks. Just need to wait for the confirmation…If you noticed we had all the reason to go lower today after the CPI print and while we did it was quickly bought up. This is not a confirmation that it is time to swing short.

Let’s bookmark this image and come back to it each month…

SPX Monthly Performance During Election Years

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