5/13 Daily Plan: Building Up Energy for the Next Move
Hey Guys -
I’ve got some exciting DCF Conclusion Studies being prepared in the background for Members in the coming weeks (Broadcom and Costco), so stay tuned for that.
In the meantime, let’s go over what I discussed in our Pre-Market Plan this morning on NQ - the Nasdaq-100 (which is my personal primary focus market because I’ve done the homework to understand Mag 7 through DCF Conclusion Studies).
While it traded 18310-315 early in the morning, I was looking for NQ to attempt a revisit to last week’s highs at ~18340ish. We topped out at 18337 in the pre-market. Please use common sense if applying my levels. If we’re very close to target, use discretion as sometimes statistical noise may prevent the exact level from being touched.
My plan from last week that a 100-150 point selloff could hit NQ on a first attempt to 18400 played out last Friday. You may recall that upon reaching 18340 on Friday we flushed back to 18200.
About 60 minutes after my pre-market note, the NQ floated up from 18315 to 18337, offering about 20-22 points of upside (each point is $20 on NQ // $2 on MNQ).
As of this post, that ~18340 NQ region also happens to be high of day.
Friendly kind reminder that NQ is an aggressive market. It moves quickly, covers a lot of ground in a rather short period of time, and is heavily influenced by the Mag 7 (which is precisely why I do DCFs on Mag 7 to help me navigate this market). Scalping this market profitably does not require securing a ton of points. Be conservative. Have reasonable expectations. If one is new to NQ and interested in this market, please use simulated accounts for at least 6-9 months and when starting out, please use MNQ (micros) and not NQ.
The rewards for becoming consistent in this market can be substantial (it will take a considerable amount of time to learn). But on the same token, the risks are also very high. There is never going to be a guarantee that my intraday targets will work, but I will of course give it my best shot. Everything that I share is simply an opinion. I need to say this many times as a disclaimer.
With that being said, let’s move on to forward looking opinions!