March 22nd, 2024

Day 3: Market takes a breather. Day 1 of a Fed meeting, markets typically overreact. On Day 2, traders react to Day 1, and many times on Day 3 we come back to reality. The market remains bullish on my charts, but it looks like we’re going to spend some time consolidating today.

For RTY, ES, and NQ, I have areas boxed out on the charts where I think the rotation range will be. I am looking for a two-way tape in these ranges. Once again, I favor the long side for any short-term strategies, and I prefer the RTY over the NQ or ES. With rates continuing their slide lower, this is a conducive environment for RTY Bulls to step in on breaks.

RTY 2129-2092.
ES 5321-5278.
NQ 18,622-18,386.

If we push outside of these ranges, then I think there could be extended moves in either direction. Keeping things very simple and trading it small and smart.

Had an awesome mentor session with the winners from the last Place Your Trades Challenge! It was great to have a private session with traders to hone in on my strategy and answer questions they had about areas they were struggling with in the markets. We have another Place Your Trades challenge starting next month, and I will be hosting a live mentoring and trading session for those winners. Looking forward to meeting the winners. Here is the link to sign up: https://placeyourtrades.com/03-25-2024-predict-the-close-challenge/

Wishing you a great day and wonderful weekend!

Cheers, DELI