4/10 Trade Plan
Hello and welcome to another installment of my daily e-mini trade plan. For any new readers, welcome! In this newsletter I discuss levels, scenarios and market analysis for the S&P500 market.
Lets begin by winding back the clock to this time last month when the short lived banking crisis first surfaced
We formed a roughly 100 point range from 3890-3990. We were expecting a ~200 point move once we broke away from this range whether that was to the upside or the downside.
It was not a clean breakout by any means either. There were several head fakes along the way and what ended up happening was the 200 point move came mostly during electronic trading hours while RTH was a slug fest.
We topped out last week at 4160 last week which is previous resistance from the February highs. NQ has outperformed the broader market over this time period as well and has been a good alternative to the choppier ES.
And now we have come back inside of this range on ES from 4100-4170 and NQ is back testing previous highs.
The main event this week will be the inflation print on Wednesday.
Keep reading with a 7-day free trial
Subscribe to Equity Pulse to keep reading this post and get 7 days of free access to the full post archives.