March 5, 2024 SPX, ES, SPY Trade Plan
Market Recap
Hello team and let’s jump into a quick review of the market from Monday’s session. From the trade plan our ideas were…
If there is a failed breakdown of 5125-5130 target 5140
Above 5140 target 5150
If there is a failed breakout of 5140 target 5130
All day long we played between 5130 and 5140 and at the opening of the trading session we sent an update about us liking the consolidating occurring at 5127-5130…See below video of our intraday updates from yesterday including our guidance intraday and also calling for a 0DTE lotto short at the end of the day to go short…
Just an update on our Gamma levels. 5200 has increased in total positive gamma showing a rollup of strikes from the previous area of gamma interest at 5100. The LIS for downside action and to flip the flow negative gamma comes still at 4995.
3/5 News Catalysts
A slew of PMI numbers are out across EU and then the US ISM Services PMI comes out at 10am est after the sessions open. Later in the day we have FED speakers.
For more information on news events, visit the Economic Calendar
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