Happy St. Patrick’s Day, traders!
The market had a monster rip on Thursday as we approach the end of this busy trading week.
It’s been a volatile week dealing with big catalysts with the Federal Reserve, interest rate decisions, and retail sales. Keep an eye out on Friday as big money will rebalance their portfolios and equity options and index options & futures expire due to triple quad witching.
When we see big pops for a few days straight like this, it’s important to flip the switch and capitalize on these big moves. We have to stay flexible and switch from shorting pops to buying dips.
As the S&P 500 (/ES) is still trading under the daily Ichimoku Cloud, keep in mind that we can see price rip to key ranges, stop and reverse, and head lower. The range from $4,400 to $4,455 is a hard level that the ES will either break through or hit and roll over.
In the video above, we’ll discuss the key liquidity levels for the market indices, how volatility can shape the narrative, and potential setups on SNOW, SHOP, TSLA, AND NVDA.
Stay Focused!