Daily Market Brief
Welcome to the nightly market brief and trading notes for the following day. Today was FOMC and notes for trading this event played out almost identical today as we reached the target zone on S&P500.
S&P500 - $5220 is a key spot for this market tomorrow. If we can stay bid above $5240 then we can press to new highs at $5290-$5300 then from there make the next trading decision to the overall market. You really need $5210s to break to get bearish SPX/SPY and other equities so if that doesn’t happen then it’s going to be tough. Best case scenario is we really hard post that event at 2pmEST so that we can look at building index shorts into Friday as PM’s sell into this liquidity to end Q1 and book gains.
Translation: make sure you sell your longs into the rally and not hold.
We’re at the next point to make a new trading decision which will be discussed for premium members inside.
MARA - +16% today and a big win for my book coming in long the equity and adding into it. This was posted in the members notes last night.
Mara - we have a technical signal on this to $21/$22 - I am already long shares on this and if we press on tomorrow, I’ll just add into this into that target.
DWAC - Also a nice long today. Discussed this in Yahoo Finance - I spoke to a journalist about it a few weeks ago and posted the info on it on the X account a few days back. Great long but out of the spec calls. If it retests down to $38, which I think it does, then I’ll get long this again, but good trade made and booked.
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