Market Analysis and Trades for 3/12
Target Met. Is the Selloff Over?
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The weekly post and for SPY 0.00%↑ and QQQ 0.00%↑ should be reviewed prior to this. Link to Market Analysis for The Week Ahead
The second major downside target for ES on a loss of 5720-5733.5 was 5532.5-5535.5. Today’s low was 5534. Our top short setup for today (shorts each day lately have been strongly preferred at least until new lows are made) worked from premarket for 100+ handles (and 70+ late in the day if one was so inclined). An opportunity to join was provided in the Discord real time (many were already in the trade from premarket):
This got us to our major target from the weekly plan (which some people longed). From the weekly plan, which gives you some insight on what must happen from here for this to be any kind of durable low. I will of course discuss my thoughts on whether it is a bottom or even a swing low below.
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