Market analysis for March 15th, 2024

Welcome back to the weekend (almost) and Quad witching day! We had a very nice day yesterday. NVDA and MSTR gave us some love. BA continued its march down so we'll need to work that position today. Scalping was a success with about $1,300 of profit on a bunch of small wins. We didn't really catch a single runner all day but the wins added up. We weren't able to get a setup I felt good about with our event contract 0DTE's but our two standard NDX/SPX setups scored well for us. Our SPX 0DTE was a unique setup that gave us a potentially greater profit, the worse it did. We'll explore this setup more today in our live zoom session.

With NVDA helping along with scalping and the successful 0DTE's my net liq was up almost 12K on the day.

PPI came in just as hot (if not hotter) than CPI. Both of these catalysts pushed our 10 yr. Bond ladder down. We're looking to take a potential long assignment on one contract today and cash flow with covered calls next week.

We were close to getting another Theta Fairy on last night but it never hit. We did get an overnight Vampire trade working right before the close and that looks to expire fully profitable at the open this morning. Vampire trades, Shorts and well as longs, Scalps, 0DTE's, Event contracts, etc. It certainly helps to have a very diversified approach as you never know what will be working, day to day. Our expected trading range for the week held and we were also able to pull our SPY/QQQ 4DTE's for a nice profit.

​Bitcoin seems to be taking a breather here:

The markets continue to bounce up against these ATH's. We are actually starting to develop a slight downtrend in the IWM and QQQ's.

Our trade docket for today should be fairly light. Fridays are usually meant for booking profits and de-risking our model portfolio, in preparation for starting next week fresh. We have a potential long assignment on /ZN. Booking profits on our ADBE and ULTA earnings setups. More cash flow on GOOG and a potential flip on BA to a long position using a L.E.A.P.. No NDX 0DTE today with Quad witching so we'll focus our 0DTE effort on SPX

Intra-day levels for me: (flipping to /ESM4. June contract)
/ES 5229/5241/5246/5269 to the upside. 5205/5189/5183/5175 to the downside
No /NQ levels today as we aren't trading NDX.

My lean for today: Neutral to bearish