Little shaky.
Daily Plan 3/19/26
So if you recall from the weekly plan, I covered why 6584 on SPX (and about 6630 on emini June) is so critical.
If you heard thru Powell’s event today, this guy was completely complacent. I could not believe his nonchalance. His remarks were precisely out of a playbook that that Trump would say— yet the markets did not care. This could indicate systemic weakness but also, some bit of choppiness can be blamed on the roll volume.
Now, as a technical support, 6584 (6630 on emini) remains potential day time frame support, until broken for the session tomorrow.
On the upside, I am interested in SPX 6684-6700 (about 6730 on emini June). This could be potential resistance unless broken. I think there was very little interest to hold these levels today, and I need to see if this pattern repeats tomorrow which can be quite bearish next few days, if we cannot close above 6684 on SPX (6730 on emini) by Friday.
If we are going to go below 6584 on the SPX, please refer to the next support at 64XX as described in my weekly post.
Oil market is exerting a lot of pressure right now. Despite oil, at one point selling 500 pips from 100 dollars, did very little to help the stocks in the cash session today. We need oil below $90 soon for relief for bulls.
~ tic
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