From a week ago:
We nailed three:
Bitcoin:
IWM
SQQQ
All three hit their best returns early in Friday's trading and trailed off as a robust counter-trend asserted into session's close. Nonetheless, the fresh trade ideas did the job of generating minimum triple digit returns, with three weeks left to go for further gains, or, close them out and await new trade ideas for the coming week.
Speaking of which....
The Week Ahead
The S&P 500 closed last week below an channel up from the late 2023 lows. It is due to "kiss" the bottom trend line before reversing back down, likely headed toward the shaded Fibonacci retracement zone shown the daily chart below:
A longer term top perspective:
Either way, the decline that started last week does not yet look exhausted. What prices do Monday and Tuesday, the latter of which coincides with projected tariffs against China, Canada and Mexico, will determine what to expect over the past three weeks left in March monthly option expirations. A rally to new highs across all market indices in not on my radar, but this market is hostage to headlines at the moment and nimble traders with open minds may find opportunities in the least likely of places.
TSLA
