Market Analysis and Trades for 3/25
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The PharmD_KS Indicator script has now been updated and automatically converts the ES levels to either SPY or SPX per your preference. The link can be found here PharmD_KS Indicator Script V6
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
Based on the rotations from The Year Ahead (reiterated last week) we could reasonably expect a move to 5811-5848 if bulls took back control of 5724-5733.5. From Thursday night’s reiteration:
Unfortunately for cash hours traders, much of this move was taken overnight as futures gap opened at 6pm at 5740 and never really looked back, opening cash session at 5782.5. I’m not personally a fan of trading large gaps so I was content to enjoy the swing gains today, particularly the move on AMD 0.00%↑ which tagged a pretty obvious resistance today:
This is one of the few names I have bothered to dedicate a post to, and it has performed as well as we possibly could have asked. I would be perfectly happy either way if it sees direct continuation here or finds some digestion first.
We had also taken some PLTR 0.00%↑ calls on Friday for a fun little trade.
We entered a litter higher than 87.02 (a bit of FOMO on my part perhaps) but it worked out well. We exited all but a 20% runner today around 95.8 with a $100 test being the final potential target for this trade if we see continuation directly.
We have now reached/approach some major areas of concern for me on the index. Tomorrow will be key. Will we see follow through, healthy digestion, or will sellers step in strong here?
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