Friday Mar 10 2023 SPY SPX ES Actionable Levels

Major sell-off and close below key 3917 SPX level. NFP out tomorrow before open. Game plan and key levels ahead.

March 09, 2023

In yesterday’s newsletter, I wrote

This is precisely what we saw after a morning rally. We failed multiple levels but importantly we failed 3972 and then 3933. This led to closing below the important 3917 support that traces all the way back to January ‘22.

The levels worked and clearly showed where we had temporary support as we continued to break through level by level. Above is the 30 min chart. Just play the levels!

Now we sit in AH resting below the key 3917 support. Will NFP save the bull thesis? What does this all mean and where do we go from here? Read below for my game plan which includes actionable support & resistance levels, outlook for tomorrow’s session and today’s trade recap.

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