Weekly [03/23] Study
Good Morning Traders, where to Begin?
My Last release was involved in the continued Balancing Act the Market had posted at the Highs; The Dreaded 6800 - 7100 : Eternal Chop. The market has since then Flushed from Pivots after some prolonged time and reached a contextual checkpoint.
This slow start to 2026 is in my opinion, an anomaly.
Updates and Pivots were not needed here. Success in this Auction required the opposite. A rather large dose of Patience as One waits for at least the break of range.
Pivot : 6910
Shorts to : 6805 / 6550I am preemptively siding with Sellers below the Pivot : 6910.
Sellers have unlocked the ability to move freely inside Higher Price.I would also look to aggressively add to the Sell on a breakdown below 6805;
Daily ESM : January - March
Adjusted for Rollover, this would act as my Points of Interest : Continued.
My thoughts on this Auction had turned Bearish with the lack of Initiation into All Time Highs. The direction was eventually correct, but as mentioned, this is the first time in 50+ Years the SPX endured such a unique start of the Year. My timing could have been better.
Despite catching the downside Flush from Highs, with Adds even; The markets’ resilience is now being put on display with Weekend Headlines providing buyers with huge upside relief.
Straight to the Point : High Level Thoughts
The Range at YTD Highs is a Valid Auction
Price Rejected this Valid Auction
Price has Flushed in respect
Recent Weekend Headlines was caused by a Valid Buyer
Despite expecting Rallies, the Lows are NOT yet in.
