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Market Analysis: Roadmap + Ideas
Investment + Trade Ideas - Bitcoin ETF pending, $PLTR
Trading Levels: Intraday Plan Jan. 3rd
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General Market Thoughts

INTRADAY PENDING DATA
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Roadmap Idea

Yesterday, many bulls we caught slipping, assuming a market gap up into the new year. It was an average day that could have been disastrous for bulls. Large moves take time to occur. I am still bearish long-term into March.

Pivot: /es 4790 As long as we continue to close under this, I will continue to ride our swing trades without second-guessing.

The downside target of interest is still 4630. The deeper, the better. Will cover levels as we get close to that range

I see 1 of 2 scenarios occurring.

1. People jump in at the sight of every small dip, but we slowly fade into lower prices until the next Fed meeting (Jan 31, 24). If Powell’s language stays consistent with their aggressive view on cutting rates, we may see a temporary bounce

2. We hold support into the next fed meeting and language changes, which may cause softness until their language starts supporting rate cuts once again. Any language change to less aggressive cutting can impact the market heading into the spring.

If any large support levels are tested, I would expect dips to be bought going into the end of the year as it’s an election year, but things of that nature will be covered at a later date.

Not all things repeat.

Theres are a lot of seasonality charts going around showing that January is usually a bullish month. As I stated many times, the market doesn’t have to repeat history or do anything. Play the cards that are dealt and take fundamental information as part of your analysis of the market, not as a deciding factor whether to trade.

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Bitcoin ETF

Company: COIN

Key points: Bitcoin ETF doesn’t do anything for COIN

• Coin doesn’t make more money from a bitcoin ETF

• The stock rose previously due to speculation that a bitcoin ETF would get approved and bring light to crypto in general.

• If this could trade in the 110-120 area, this could make for a good yearly equity swing. A smaller portion would make sense near these levels with an add of around 100 bucks. As long as this doesn’t start closing under 87. This could trade 200+

Company: PLTR

Key points: Long Term Bullish

• If this stock can hold 13.9 on a daily close, I believe we stay range-bound to retest 20-21

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Trading Levels

/ES levels:

During the overnight session, 4970 held resistance. The key level will be yesterday's low at 4765. If tested, there could be a temporary 5-10 point scalp to 4775.

If we start treating 4765 as resistance, we could trade into 4740, 4690.

I expect bullish moves into the 4800s to be sold before market close. Void if we close above 4810.