Hello traders,
Hope you had a great weekend.
We caught the move up last week quite nicely and our levels worked pretty well and we bought the CPI dip.
Similarly, we were able to capture the Powell up move.
And then late Saturday night we got into some ES shorts at around 4785 area that went nicely for us.
We were able to capture the NQ HOD on a couple days within 3 points, that resulted in a 40R trade.
And just this evening we were able to get about 25 points on a Nasdaq short with virtually no drawdown.
Not many people trade the Sunday open but there is an edge there( a topic for a different time)
Moving on,
This week we have a relatively light week with PCE coming in on Friday that would affirm what Powell & co were thinking about taming the inflation dragon fully.
This newsletter has been Bullish since end of February, so I do not see a reason to be positionally bearish at the moment.
Weekly Plan 2/27
Hello Traders, We had an eventful week with PCE showing very sparse signs of abatement. We know that PCE is the Fed’s preferred gauge to measure inflation. In her interview with Bloomberg News on Friday in New York, Cleveland Fed President Loretta Mester expressed her dissatisfaction with the current inflation readings, stating that the…
Weekly Plan 8/21
Hello traders, As mentioned in last week’s plan we did touch 4436-40 on ES and it gave a reaction of 15 points a couple times and then finally gave way. Other than that we were on the right side of the NQ trade and caught plenty intra-day bounces on NQ and ES
If SPX manages to eke out another 2.5% from here then we would hit my gun to the head target. That is something left to be seen.
Moving on,
Levels for this week: