Morning Ideas March 19, 2021
Should be a volatile day today after the closing push down yesterday.
Like I had mentioned before, the ES is influenced by the NQ and the two are in “different boats” right now as there seems to be more weakness in tech.
I took a smallish loss yesterday after the bounces higher continued to fail, but those of you that held through, good work.
3900 is very key today, and I’d look for that to hold. I would be very careful with buying below 3900 today.
These levels are even more important today than usual because of all of the options expiration activity today.
Spx expires at 930, but the majority of the negativity is coming from QQQ (techs) and they don’t expire until 4:00.
Conclusion, buckle up, it’s likely to be a shitshow. I’d expect to see the range between 3890ish and 3950
Like I had mentioned before, the ES is influenced by the NQ and the two are in “different boats” right now as there seems to be more weakness in tech.
I took a smallish loss yesterday after the bounces higher continued to fail, but those of you that held through, good work.
3900 is very key today, and I’d look for that to hold. I would be very careful with buying below 3900 today.
These levels are even more important today than usual because of all of the options expiration activity today.
Spx expires at 930, but the majority of the negativity is coming from QQQ (techs) and they don’t expire until 4:00.
Conclusion, buckle up, it’s likely to be a shitshow. I’d expect to see the range between 3890ish and 3950
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