Daily Plan 3.6.25

Hey friends- so you are seeing quite a bit of tug and pull here at 200 SMA. These 200 SMA touches have a shelf life- so ideally I want to see this break below this level may be today. If we do not break this by today, I think we would have technically seen a double bottom which is an indicator of buying activity overcoming sell pressure.

The key level for me today will be the lows from yesterday at 5750.

Since these lows have not broken yet, we cannot be making castles in the air about bearish dreams unless this particular level breaks.

Scenario 1: If we hold 5750 level, I like to see this market retrace back above 5800. I further think 5818 is an important level today which if broken can retest 5840.

Scenario 2: If we are going to see bearish pressure here, you need to see 5750 break, else it remains a pipe dream. A lot of these furus are listening to CNBC and Bloomberg to form their opinions, they dont have an idea where the market pressure points are. Orderflow is all you need.

Now since the volatility remains elevated, know that the markets have been trading with a large MAE. This is a factor of volatility. 2-5 point stops don’t hold in this!

~ toc

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