115 replies to this topic

[dTraderB]

Closed 1 NQ LONG 18511.5

[redfoliage2]

 

 

 

 

 

Heavier SELLING than I expected.
Maybe Q1 Portfolio adjusting etc by BIG MONEY

The selling part is likely done in the recent days including this morning, now not much time left for them to position for the bull run for the next quarter.  Very likely we are going to see the market making new highs as soon as next week  .....................

 

Good to see the market breadth turning up today from the recent dip, my intra-day breadth indicator today crossed the 0 line into the positive region and I expect NYMO to follow 

 

BTW, key economic data to be released tomorrow morning including GDP, initial jobless claims, and Chicago PMI, are likely to support the soft landing outlook for the US economy and so the the bull market .............................  

 

We are likely to see SPX 5400 or higher in the 2nd quarter unless future economic data stop supporting the soft land outlook or the Fed would not cut rates this year ........................

 

Well, market breadth turning strong in the afternoon indicating EOQ buying programs kicked in.  NYMO is very likely to close the day in positive land from the recent dip, and SPX is likely to close the day at HOD as the Bull Train 2024 leaving Station Q1 .................................

 

Edited by redfoliage2, 27 March 2024 - 03:05 PM.

[redfoliage2]

What a dramatic day in the market, and it's likely the EOQ buying started late in the afternoon today will continue tomorrow with a gap up .........................................

Edited by redfoliage2, 27 March 2024 - 03:21 PM.

[redfoliage2]

 

 

 

 

 

 

Heavier SELLING than I expected.
Maybe Q1 Portfolio adjusting etc by BIG MONEY

The selling part is likely done in the recent days including this morning, now not much time left for them to position for the bull run for the next quarter.  Very likely we are going to see the market making new highs as soon as next week  .....................

 

Good to see the market breadth turning up today from the recent dip, my intra-day breadth indicator today crossed the 0 line into the positive region and I expect NYMO to follow 

 

BTW, key economic data to be released tomorrow morning including GDP, initial jobless claims, and Chicago PMI, are likely to support the soft landing outlook for the US economy and so the the bull market .............................  

 

We are likely to see SPX 5400 or higher in the 2nd quarter unless future economic data stop supporting the soft land outlook or the Fed would not cut rates this year ........................

 

Well, market breadth turning strong in the afternoon indicating EOQ buying programs kicked in.  NYMO is very likely to close the day in positive land from the recent dip, and SPX is likely to close the day at HOD as the Bull Train 2024 leaving Station Q1 .................................

 

 

End of Day NYMO at 18.30, up nearly 30 points from yesterday's -11, that indicates EOQ buying programs running to position for the next quarter .......................

[dTraderB]

NQ LONG 18476.5
ES LONG 5302.75

HOLDING 2 EACH

[dTraderB]

BUY THE DIP has worked well this week.

WSJ: "Its the last day of trading in a barnstorming first quarter. The S&P 500 is on track to notch its best start to a year since 2019, and has set a series of record highs. Stocks had advanced Wednesday to break a recent modest pullback."

This almost out from CONGESTION ZONE:
https://www.mcoscill...t_breadth_data/

[dTraderB]

I have to trade FUTURES TOMORROW!
"Fed chair Jerome Powell is likely to echo that on Friday, when he takes part in a panel discussion in San Francisco after the release of the February's Fed-favored PCE inflation gauge. Stock markets will be shut for the Good Friday holiday at the point.



But with U.S. GDP revisions for the fourth quarter expected to confirm a 3%-plus real growth rate later on Thursday and Atlanta Fed estimates still showing the expansion cruising above 2% through Q1, the S&P 500 clocked another record closing high on Wednesday and futures held that ahead of the bell on Thursday."

[dTraderB]

Important DATA today:
Key developments that should provide more direction to U.S. markets later on Thursday:
U.S. Q4 GDP revision, weekly jobless claims, Kansas City Fed's March business survey, March Chicago purchasing managers survey, February pending home sales, final reading of University of Michigan's March sentiment index
U.S. corporate earnings: Walgreens Boots Alliance
U.S. Treasury sells 4-week bills

[12SPX]

Well that was a fun ending to the day, made great profits early on and still got decent shorts on with an average short of 5295 and 18475 now.  Looks like another up month for the market going to be an interesting end today, lets see how economic data looks in a few minutes......

[redfoliage2]

 

 

 

 

 

 

Heavier SELLING than I expected.
Maybe Q1 Portfolio adjusting etc by BIG MONEY

The selling part is likely done in the recent days including this morning, now not much time left for them to position for the bull run for the next quarter.  Very likely we are going to see the market making new highs as soon as next week  .....................
 

Good to see the market breadth turning up today from the recent dip, my intra-day breadth indicator today crossed the 0 line into the positive region and I expect NYMO to follow 
 

BTW, key economic data to be released tomorrow morning including GDP, initial jobless claims, and Chicago PMI, are likely to support the soft landing outlook for the US economy and so the the bull market .............................  
 

We are likely to see SPX 5400 or higher in the 2nd quarter unless future economic data stop supporting the soft land outlook or the Fed would not cut rates this year ........................
 

Well, market breadth turning strong in the afternoon indicating EOQ buying programs kicked in.  NYMO is very likely to close the day in positive land from the recent dip, and SPX is likely to close the day at HOD as the Bull Train 2024 leaving Station Q1 .................................
 

 

End of Day NYMO at 18.30, up nearly 30 points from yesterday's -11, that indicates EOQ buying programs running to position for the next quarter .......................

GDP data and jobless claims just released indicate US economy is humming along, supporting a bullish outlook for the stock market..