March 21, 2024 SPX, ES, SPY Trade Plan
Market Recap
Great trade plans yield to great results. Many of you went away today up $1k or more in PnL and wow what an exciting day it was.
I am really happy to see many of you walking away with massive profits today and I ended the day as well nicely up…
So what did we say in the trade plan - which helps prepare us for the days action - and then we use 0DTE options flow to guide direction and strength of that trade plans moves. What trade ideas did we have yesterday?
Above 5175 target 5190-5195
If VIX continues going down then a breakout of 5195 targets 5205 then 5215
Then to add on top of that we added the last target on the day with real time updates in our discord with this update…
Congrats to all of you. Now the challenge - do not give back your profits. Keep trading smartly and manage your risk…
Alright let’s jump into our trade plan…
Just a reminder - Transition to Discord…
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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.”
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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, 5250, 5225 are your top net GEX levels
5200 is now supportive so keep an eye on how price reacts here if it is revisited
5250 is showing a lot of interest from customers…
There will be a squeeze if we break and hold 5250…
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…
5200 is the first area of support
Put support at 5140 - could be where the low of the day could get to
5150 is where the market starts to get negative gamma - aka sell the rips
5250 is a key upside target and resistance
With that let’s jump into our trade plan….
3/21 News Catalysts
Overnight the EU reports on PMI, the UK has their monetary policy summary, and then pre-market the we start with unemployment claims, philly fed index, and then after the open PMI…
For more information on news events, visit the Economic Calendar
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