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Friday MAR 25 WATCH Final Friday of Q1
Message me in CHAT any individual stocks you have or are watching for
- TERMINOLOGY: ES = S&P Futures; YM = DOW Futures; NQ = Nasdaq Futures
APR 1 PUTS LOOKS:
TSLA: 970
- 979 – 971 / 955 support attempt pivots
- 1-2-3 completed view with pending 4 to low 900s
- 1052 / 1077 impulsive blow off before decline plausible
- Xtremely OVERBOUGHT Daily
970 PUTS closed @ 16.04; 900 PUTS closed @ 3.95
SELL CREDIT CALLS SPREAD: 1100 / 1050 = $10.10 (net credit)
- 173.88 pivot reached
- 164.90 / 165.49 support pivots
- up every sessions since
170 PUTS closed @ 1.16; 175 PUTS closed @ 2.98
SELL CREDIT CALLS SPREAD: 185 / 180 = $0.41 (net credit)
- 277 = -20% from ATH
- +39.80% from MAR LOW (+82p)
- 265 1st support pivot
270 PUTS closed @ 4.55; 265 PUTS @ 3.25
SELL CREDIT CALLS SPREAD: 305 / 285 = $5.19 (net credit)
- +72% from MAR LOW
- China CRACK DOWN still in effect
- Chinese Stocks De-Listing still in discussions
- 110 primary pivot
- 104.80 1st support
109 PUTS closed @ 2.40; 105 PUTS @ 1.41
SELL CREDIT CALLS SPREAD: 130 / 120 = $1.84 (net credit)
SPX FAILED 5th WAVE / DOUBLE TOP?
WTD 5Min
Need a CLOSE below 4666 whereas the Monday OPEN is 4,462.40 so we’re sensitive about a Weekly 🔻 Candle. Last week’s candle was “UP” so it can be wasted (meaning closed below) and with the VIX A L M O S T tagging that 21.02 pivot yesterday…
WE ARE DUE A STRONG “DUM|P” which then sets up the BTD for the MARCH MONTHLY CANDLE (4,363.14) if this FAILS LOWER than the text book fibonacci decline for that 4437 – 4426
Thus SPY 447/446 PUTS are in play for today
450 above your RISK / APR 1 PUTS entry level
SLOW GRIND WAVE 5 BULLISH ALTERNATIVE
SPX 4545 – 4555 above with the VIX 21.02 below
On this continuation into today’s close, MONDAY MAR 28 SPY 449/450 PUTS for the weekend respectfully positioned is appropriate
Nasdaq WEIGHT did 80% of the work to bring SPX above 4350
In Summary:
“WARNING” SPX BEAR BOUNCES:
- JAN BOTTOM: 8 sessions; +8.83%
- FEB BOTTOM: 6 sessions; +7.34%
- MAR BOTTOM: 7 sessions (Tuesday); +8.66%
We should be seeing a dip to 4431 – 4386 before moving on to the CORRECTION IS OVER / EARNINGS SEASON
Keyword “should”
Message me in chat/email any tickers you want looked at
US 10yr @ 2.348 (5:00 AM)
VIX @ 22.19 (5:00 AM)
SPX Thursday MAR 24 Data:
- Overnight Gap: +13.74
- Range: 55.41
- Open -Close: +50.18
- Close -Close: +63.92
- LOD > Previous Close: +8.93
- Previous Close > High: +64.34
- ATH > Close: -6.19%
- ATH > LOD: -7.34%
- 2022 Open: 4778.14 (-5.40%)
- HOD Off MAR 2020 LOW: +106.24%
- YoY: +15.62%
- Month of March (4,363.14): +3.60%
