SPX SPY ES for 3/28/24

Today was rather difficult at times yet again. We once again had another huge move up overnight, followed by a sell off into/at the open. This time, however, we had a late day enormous bullish move (after hours of chop again) as opposed to a late day sell off. I was determined to get us positioned for the big move higher after yesterday.

I had posted some SPY 0.00%↑ levels that would make for reasonable swing long attempts on this weekend’s free markets overview post that can be seen HERE. Once we had opened the week below 520.42-62, the levels to watch were $519.50 and $518.40. Yesterday’s low was $518.40 and today’s low was $519.49.

I hadn’t even bothered to navigate into my own swing long idea so that’s what today was about and why we were looking to get swing long at today’s low of day.

The last couple of days have seen a late day sell-off below value that have been traps (at least for the overnight session) and we were careful not to get too bearish. Today saw a late day rally above value and we will be careful not to get too bullish, even though many of us (including me) are swing long from low of day.

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.

The full weekly plan and commentary should be reviewed ahead of this post and can be seen 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.