Bounce Into FOMC And Then Down
Let’s start plotting a possible course in the S&P 500 which could see a rally start soon to near the 4083 Voodoo Fireline and then down to a 3648 treeline.
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Let’s start plotting a possible course in the S&P 500 which could see a rally start soon to near the 4083 Voodoo Fireline and then down to a 3648 treeline.
It’s official. February is now on the books as a -2.5% loss after January’s impressive +6.2% gains. The question now, of course: Whats next? i.e what will March have to offer? Two things to remember… 1st is the 3rd Friday OPEX and 2nd will be end of Quarter with the Mar 31 Quarterlies. Each will require its own game plan.
As we prepare for tomorrow’s trade, let’s put the $SPX hourly squeeze through the “x-ray” machine to see what clues we can find.
Heading into tomorrow, the bears have all the ammunition on the Big 3 signals. Let’s take a look the hourly squeeze setting up in the $SPX, and how that could likely set the tone for the next big move.
In this update, I share three setups that are working together to offer long positions in the NASDAQ, Consumer Discretionary ETF, and TSLA.
Risk appetite can chalk up a win with the end of the month ending in an inside day. Lots of data this week to set the tone for the new month.
Nine sessions and -250 SPX points may call for a little breather as new 1st of the month investment funds start to roll in mid week this week. Let’s let it breathe and then get back on our bearish bias for targets that we all already know.
Tonight I’d like to look at quite a few ideas. Top of the list are Coffee, NatGas, Ag’s, and Metals. I plan to drill down and get really specific about a few of these ideas.
In a market that’s been so focused on a short term outlook I may be early with this March idea, but I’d at least like to get it out there.
We opened our morning with a good view of the short above 4000. With the index closing just below this key psychological level what might we look for in Tuesday’s trade? All of that and more in tonight’s video newsletter.