Week of 2/25/2024 for SPY SPX ES

"I have a position"

SPY 0.00%↑ In last week’s plan we knew we had to remain objectively bullish, but I was looking for early week weakness on an early test higher. I was also looking for longs if we held or looked below and failed 4982.25-4985.25. Both of these played out perfectly:

Futures opened on Sunday night on a gap up (first arrow), traded toward 5032, failed just below twice and trended lower into Wednesday afternoon. On Wednesday we were on watch for a swing low into 4960 that would produce a look below and fail of 4982.25 for a 5011-13 retest. This moved happened more quickly and powerfully than anyone could have predicted and we ended up getting the full weekly value area traverse (5043.5 and 5057.5 next targets above 5013) and then some.

From the Tuesday night plan and Wednesday we finally got the proper 4960 test on Wednesday:

The 4960 test triggered our favored long setup for Wednesday (look below and fail of Tuesday’s 4968.25 low) and the rest was history. The move following the 4979.5 reclaim was indeed large:

For this week I will cover a potential “trap door” setup that could potentially see a 280 handle (or more) pullback, along with a “just a trap” setup that would likely trigger a 150 handle long. I will also discuss how I am positioned and what will make me change that positioning.

Updates to any of our individual names we’ve been trading will continue to be made primarily in discord such as BABA 0.00%↑ JETS 0.00%↑ XLE 0.00%↑ PLTR 0.00%↑ TSLA 0.00%↑

I may update coverage on HOOD 0.00%↑ this week as well

A couple of the latest ideas that I’m kicking myself for not taking but I DID say I wouldn’t even look at them 😂

SEM long the bottom or the back test of the breakout. AEO long the back test of the breakout.

SEM 0.00%↑ and AEO 0.00%↑

A few notes that I would encourage newer and potential subscribers to read first:

-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.

-Discord is currently still available (Free and included) for new subscribers but this may change soon. If you are looking for Discord access, see below instructions. Be aware it takes a few days to validate user info and gain access so please be patient. If you don’t have an invite link after a few days please check your spam folder. Instructions for access are HERE

-I recently created a lower price/content substack for those that don’t have the time/bandwidth to trade regularly but want to stay in touch and learn. For details click HERE