Pre-Market Plan [9/9] + Daily Plan
Sending out Early to prepare.
Pre-Market Plan [9/9] - For All Readers
Good morning folks,
As a recap for last week, from the Tuesday high to Friday’s close, ES (S&P 500 Proxy) fell from 5650 to 5405 and NQ (Nasdaq-100 proxy) fell from 19600 to 18375. Much of the bullish progress that took roughly 3 weeks to accumulate during the August recovery was retraced in one week.
These are extremely large moves in the context of a week, and as a result, Investor fears are now represented as “Fear” once again in the Fear & Greed index and the Put/Call ratio has reached a local high not seen since the August Lows. Put/Call ratios are used to help understand how much downside protection investors have purchased at any given time.
On tap this week are the following catalysts which has the opportunity to either reverse the recent decline or pose additional barriers to recovery hopes. More detail will be discussed about these events in the Daily Plan for members below and in coming notes.
Monday (9/9): Apple’s iPhone 16 showcase launch event.
Tuesday (9/10): Nvidia’s Goldman Sachs technology conference. TSM’s Monthly Sales report. Trump/Harris Debate (evening time)
Wednesday (9/11): CPI
Thursday (9/12): PPI
NQ saw an important mathematical .618 Fib Level get touched at Friday’s lows at 18375. In plain english, this means 61.8% of the advance from August’s Lows to the recent swing high at 20000 has been reversed. This is a key area that I hope to see hold, ideally with no retests if one is a bull.
Ahead of this coming week, my thinking is that there may be a relief recovery but that its sustainability is far from certain and depends on several catalysts coming in at the right mix.
To understand how I’m measuring the sustainability of any relief rally that may get sold into, I’ll discuss more details with Members below.
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Daily Plan [9/9] - Members Content Below