March 20, 2024 SPX, ES, SPY Trade Plan
Market Recap
Major major news catalyst coming in Wednesday’s trade session and that is FOMC…
Before we get into Wednesday’s trade plan let’s review today’s trading session.
The market opened at 5139 zipping quickly to make a low at 5131 where it consolidated and reversed going as high as 5180. How did we fare?
Reviewing the trade plan we had the following trade ideas…
If there is a failed breakdown of 5135 target 5150
Above 5150 target 5165
If VIX continues going down then a breakout of 5165 targets 5175
Additionally, we provided real time guidance in our Discord as 0DTE options flow came in suggesting we take a failed breakdown of 5140 or to be safer wait for 5145 to breakout with 5155 and then 5170 as targets…
Alright let’s jump into Wednesday’s trade plan…
Just a reminder - Transition to Discord…
One more week - end of March - and we will be discontinuing our Substack in favor of our transition to Discord. Haven’t made the transition yet? Below are details…
All of these updates were provided in real time in our Discord server. If you are an existing subscriber and haven’t received an email on how to transition to Discord please email me at darkmattertrade@gmail.com. For the subject line please add “Access to Discord.”
📈 Don't miss out on key levels, expert trade ideas, daily plans, and intraday updates for only $29.99/month.
💰 Click subscribe now and supercharge your trading game! 🚀
#TradeSmart #LimitedTimeOffer
SUBSCRIBE
Gamma Levels - GEX
Here is an overview of the Gamma/GEX data we are seeing longer term…
Customers are treating this market as positive gamma - buy the dips
5200 is your top net GEX levels
5200 still has interest on it if revisited, but will be major resistance
There will be a squeeze if we break and hold this level…
It also could play as an interim top/resistance level until opex
5130 is a key pivot - below will trigger a larger selloff and push us back into negative gamma
4800 is a key level of support
Here is what it looks like intraday or 0DTE…
Put support at 5120 - could be where the low of the day gets to
5145 is our intraday pivot level
5195-5200 is a key upside target and resistance
5225 is our upside max target if we were to get there as long as we are above 5200
With that let’s jump into our trade plan….
3/20 News Catalysts
Before we get to FOMC at 2pm est the UK reports on CPI overnight
For more information on news events, visit the Economic Calendar
Just a reminder for those not subscribed to the newsletter your access will end here for you.
You can still join us for the rest of the plan where we discuss key levels and entries to take and targets.
There is a 5 day free trial for access into our new Discord channel. SUBSCRIBE
Keep reading with a 7-day free trial
Subscribe to Dark Matter Trade to keep reading this post and get 7 days of free access to the full post archives.