Trade Plan for 11/21

Box Was Still Box

The weekly post for SPY 0.00%↑ and QQQ 0.00%↑ should be reviewed prior to this. Link to The Week Ahead

The pricing change on the course is now scheduled to go into effect tomorrow (likely late morning) and the announcement regarding Discord perhaps shortly thereafter. Announcement

I did a free video on “Hedging the Edge” which is a concept I often use to manage a position at very binary spots so that I can hold my primary position for a much larger move. Hedging the Edge

SPY 0.00%↑ As bullish as yesterday appeared, all it did was extend the top of the box a few handles. We looked above and failed during the overnight session and sold at the open. Below is the RTH only view of the box

In a last minute decision I decided to get short of sellers defended 5940 from Below. The AM high was 5940.25. I personally shorted 5939:

We took covers on the way down. We were expecting a very trappy day ahead of NVDA 0.00%↑ earnings and even as we were short I reiterated this.

We then flipped long at the higher low at 11:30AM (5889.5 low) potentially for a swing on a solid close.

I will be making an announcement in the next few days, but moving forward the Discord will not be included with a paid newsletter subscription. If you are already subscribed or are subscribed before the deadline then you will retain both newsletter and Discord for the same price you are locked in at for life. I don’t yet have this finalized and will provide a few days notice ahead of the deadline.