1. Main indication: A daily close today (Wed., Mar. 11) above $2043 in the Mar. S&P will indicate a quick advance and test/attempt at $2057/$58 (or higher) into Thurs., Mar. 12 (+ 1 day).
2. Initial long position exit should be taken at/near $2052. Any remaining long position should be exited at/near $2057/$58, as noted above.
3. Once long, an initial protective sell stop should be placed at $2040. This stop will be moved higher as the market continues to confirm. Will update.
4. Aggressive only can go long at current prices (current price $2046.25) with a protective exit upon any hourly close in today’s session below $2042. All others should wait for the daily close above $2043 prior to new long entry.
1. In yesterday’s (Wed., Mar.11) March S&P report it was noted that a daily close above $2043 in the Mar. S&P would indicate a quick advance and test/attempt at $2057/$58 (or higher) into today, Thurs., Mar. 12 (+ 1 day).
2. Yesterday’s March S&P session closed at $2041.25, slightly below the $2043.00 confirming level. However, today’s session gapped back well above $2043 (today’s session opened at $2047) setting the original long trade indication into motion. New long entry was also noted in today’s S&P messenger live window, although in the new June S&P contract.
3. Today’s session then advanced powerfully and completed the forecast $2057/$58 upside target (today’s March S&P session high, $2058.75, so far). This completes the trade. Yesterday’s daily close below $2043 and today’s sharp recovery above $2043 is likely due to options expiration and contract rollover behavior. Will message any further entry or indication in the June S&P.