SPX SPY ES for 3/07/24

Are "We So Back?"

Into today we were monitoring 5089-93 as a rough pivot that would indicate relative strength of sellers vs buyers into today. After consolidating in this range for most of the Asia session, price broke above 5093 and proceeded directly to yesterday’s high, and ultimately to 5135.5 today’s high of day. Buyers were not quite able to fill the SPX gap nor the ES RTH gap (Monday’s low 5135.25). Was this a potential clue about the strength of buyers today?

IMPORTANT THIS WEEK

I will continue to use the current (March) ES contract for levels through Friday. Trading View will change ES1 (front contract) to the June contract on Thursday at 1800 EST open and thus will affect Friday trading. One can use ESH2024 on Friday to have these levels apply.

Be sure to see the weekly plan for a bit of context and expanded commentary HERE.

To learn more about how I trade, see the post “What is Trading Doggy Style” Here

-For those that trade SPY/SPX, there is an ES to SPY/SPX converter in Tradingview. See announcements in the Discord.

Discord policy may change to a wait period in the near future. Instructions for access (free for paid substack subscribers) are HERE. Reminder that it can take a couple days to get the invite link and ultimately assigned member status once in the “landing” area of Discord.

-To learn more about what this Substack offers, please click HERE. I would like to avoid people signing up before they know what they are getting.