March 15, 2024 SPX, ES, SPY Trade Plan

Market Recap

Instead of writing up a recap here is a video recap. Below are the trade ideas we provided in yesterday’s trade plan including real time updates of new levels intraday…

1. If there is a failed breakout of 5180 target 5155

   1. Ideally, we find a failed breakout after premarket data release so this trade needs to be reassesd post data release and session open

2. Below 5150 target 5130

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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

• 5150, 5130, 5140 are 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

• 5095 is a key level which will trigger the market to shift into a negative gamma condition - sell the rips

Here is what it looks like intraday or 0DTE…

• Spot is sitting right above a massive put strike at 5140 and this will be our pivot level on the day - stay above it stay bullish and below it bearish

• 5140 is a pivot level intraday - below targets 5100 then 5075 and above it 5150

With that let’s jump into our trade plan….

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My Trading Rules

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3/15 News Catalysts

Today’s catalyst include the Empire State Manufacturing Index, Industrial Production, and Consumer Sentiment and Inflation Expectations.

Economic calendar for 3/15

For more information on news events, visit the Economic Calendar

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