12/18 Trading Plan - Today's Recap and Tuesday Trading Plan

19 בדצמ׳ 2023

📊 Market Sentiment: Bullish Trend with Cautious Watch

The market continues its upward trajectory, indicated by 8 consecutive green days, but now faces a critical juncture just under major resistance. While the bullish trend is dominant, traders should be vigilant for any trend reversals.

🌏 Major Global Catalysts

• Tesla's Wage Increase: Impacts on union interest at the Nevada Gigafactory.
  
• North Korea's ICBM Launch: Escalating geopolitical tensions.
  
• Market Reactions: Mixed signals with rising Treasury yields and fluctuating European and Asian markets.
  
• Venezuela-Guyana Territorial Dispute: Agreement to resolve peacefully.
  
• China's Economic Challenges: Deflation risks highlighted by falling pork prices.
  
• Crypto Political Influence: Super PAC's significant funding for the 2024 elections.
  
• Russia-Ukraine Conflict: New EU sanctions amidst Putin's re-election plans.
  

📷 Snapshot

Daily Data Sentiment Analysis:

• EMA 9, 21, 55: Indicating a bullish sentiment with closing prices comfortably above these EMAs.
  
• Overall Sentiment: Bullish.
  

4-Hour Data Sentiment Analysis:

• EMA 9, 21, 55: Also showing a bullish trend.
  
• Overall Sentiment: Bullish.
  

📉 Support Levels

• Major: 4788-90, 4781, 4772, 4766, 4763, 4753, 4744, 4730-34, 4726, 4719, 4708, 4698-4700, 4692, 4684, 4673, 4663-66, 4654, 4648, 4634, 4630, 4618-20.
  
• Minor: 4764, 4724-26, 4717, 4700, 4690, 4684, 4678, 4674, 4670.
  

📈 Resistance Levels

• Major: 4796, 4806, 4810-12, 4817, 4825-27, 4838, 4848, 4860, 4873, 4883, 4900, 4906, 4910, 4923-25, 4932, 4945, 4953, 4962, 4976, 4990, 5002.
  
• Minor: 4787, 4795, 4816-20, 4826, 4838.
  

📝 Trading Plan

Bull Case Analysis:

• Key Levels: 4781, 4772.
  
• Strategy: Maintain the breakout, targeting 4808-10.
  
• Risks: Be cautious after 8 green days, the trend could shift.
  

Bear Case Analysis:

• Target Short Entry: If 4773 fails, consider shorts with caution.
  
• Profit Targets: Watch for potential dips towards 4708.
  
• Strategy: Discipline in profit-taking is key, watch for market traps.
  

Tomorrow’s Outlook:

• Discipline and Strategy: Monitor 4781 and 4773 supports closely.
  
• The market remains bullish, but a shift is possible at any moment. Monitor support and resistance levels diligently and adjust strategies as needed.
  

Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision.