1/8 Trading Plan - Last Week Recap and Monday Trading Plan

📊 Market Sentiment: Cautious Watchfulness Amidst Global Changes

The markets are attentively eyeing the evolving geopolitical landscape and economic indicators. With global elections and central bank policies in focus, investors are navigating through a blend of optimism and careful scrutiny.

📝 Today's Recap

Late in the day, some long exposure was added back at 4727, reflecting a cautious optimism and readiness to leverage any positive shifts. As the market oscillates between the identified support and resistance levels, traders are advised to maintain a disciplined approach, especially in potentially choppy zones.

🌍 Global Financial and Economic News

Geopolitical Tensions and Elections: Markets are closely monitoring the ongoing geopolitical issues and upcoming major elections, which contribute to the current sense of uncertainty.

Central Bank Policies and Interest Rates: There's a growing anticipation that the Federal Reserve and other central banks might pivot to interest rate cuts, potentially easing the economic landscape.

Economic Growth Outlook: Despite the mixed forecasts for 2024, some optimism persists, with analysts expecting varying degrees of economic performance and inflation dynamics.

Stock Market Performance: The stock market enters 2024 on the back of a strong previous year, but with cautious sentiments about the potential for volatility and corrections.

Influencer Advertising and the Creator Economy: The continued growth in influencer advertising and the creator economy marks a shift in marketing strategies and consumer engagement.

📉 Support Levels to Watch

The market's response to the key support levels at 4735, 4728, 4709, and particularly 4698-94 will be critical in shaping the next moves. Traders are eyeing these levels for potential long positions or further sell-offs, depending on market behavior.

📈 Resistance Levels to Consider

Resistance levels at 4741, 4746, and 4757, among others, are on watch. A reclaim of these levels could signify a bullish sentiment, while failure might reinforce bearish trends.

📝 Trading Plan for Monday

Bull Case: Bulls aim to maintain control and push for a recovery, ideally holding above critical supports and targeting key resistance zones for potential rallies.

Bear Case: Bears are watching for breaks below significant supports as confirmation of continued downtrend, prepared to capitalize on breakdown trades despite their inherent risks.

🛑 Disclosure

This is not financial advice and is for educational purposes only. Market sentiment and strategies are dynamic and can change swiftly. Consult a professional financial advisor before making any trading decisions and remain vigilant, especially in times of market volatility and ahead of major economic announcements.