Week of 3/31/2024 for SPY SPX ES
Now that I’m back from vacation I reactivated the 7 day trial option. Reminder that Discord access is not included for the trial period as it is an administrative nightmare. If you continue beyond the trial, please see the Discord access instructions lower in this post or within any post. For the trial click HERE
In last week’s commentary the line in the sand was posted- above which nothing bearish could happen. We didn’t even come close to testing it this week:
We were looking for longs between 5259-74 if we traded lower first. On the weekly plan I had suggested that I didn’t love it other than for day trades. This changed as the action played out and we swung it long from 5271 at Wednesday’s low to Thursday’s high of day.
I had provided more precise levels on SPY 0.00%↑ on the free Market’s overview post seen HERE
On Thursday we indeed made new all time highs on SPY 0.00%↑ and $SPX but fell 1.75 handles short on ES. We exited the bulk of the position 1 tick from High of day on ES at 5320.75 (high of day 5321)
This was the trade and I saw no reason to pay theta over the long weekend and take binary risk into PCE and JPOW on Friday with the markets closed.
There are a number of ways that this week could play out especially given the markets being closed as PCE was reported and JPOW did his song and dance. Thus, we’ll have a number of scenarios for both swing longs and swing shorts and the daily plans and Discord will help facilitate this once we see how the week opens.
-To learn more about my trading style, please see my recent post “What is Trading Doggy Style” click HERE.
A few notes that I would encourage newer and potential subscribers to read first:
-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