SPX SPY ES for 3/26/24
If you aren’t aware we’ve added a room to the Discord for small cap trades which includes ideas from one of the best small caps traders I’ve every met. Two of his trade ideas for today went 80%+ OPGN 0.00%↑ (After hours move) and KULR 0.00%↑ during cash hours
I’ve included a free trial offer for 7 days. See HERE. It will not include trial access to discord as it is an administrative nightmare. Be sure to request your discord access if you continue beyond the trial period.
Note I did a free markets overview post that can be seen HERE
The full weekly plan and commentary should be reviewed ahead of this post and can be seen HERE
Today was a rather disgusting day to trade SPY 0.00%↑ intraday but we caught what are in my opinion the best 2 trades of the day.
Long setup 1 (a scalp for early futures open last night) played out for a 7 handle trade but didn’t apply this morning as we were opening below Friday’s low. Long setup 2 was therefore the trade premarket at 7:51 EST:
The overnight low was 5272.5 and high of day was 5288.75
We then took a short back down from 5287.5 after 88-90 indeed rejected bulls’ attempts. The afternoon low after that short was 5275.75
DIA 0.00%↑ backtested it’s box breakout as suggested in the free markets overview post:
SPY 0.00%↑ presented one of the swing long setups also posted in the free overview post if that is your bias.
Today’s hold of 5272-5274.75 was huge. It was one of the areas suggested in both the free markets overview post and the paid weekly post that could produce a swing low. With tonight’s post we will discuss whether or not that was the swing low, and what we would need to see next for confirmation. We will be prepared to trade both ways tomorrow, as always.
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.