Would you ever imagine that another bank failure would lead to a rally of 1.5% in Europe and 1% in the US equity space? The overnight low in the ES was 3895, the year open. Today it rallied back to balance @ 3990, or +100 higher. Wow! Don’t go to sleep on this thing either because the fun is just beginning.
Everything closed OpEx week right on their respective razor’s edge. Let’s cover the plan for next week.
Come Wednesday, we will have more clarity on where rates are heading. Do the current Fed Fund Futures have it right or wrong? In this update, I share where I will be looking regardless of whether Powell is kind to the bulls or bears.
Over the past ten days we’ve been working on spread ideas for the March expiration. Most have seen a decent respect of the levels and logic and are worth an update in tonight’s video newsletter.
