March and Bullish momentum

1 Mar

The month of March starts with the bullish momentum from the previous month Feb 2024.



February closed with strength while creating a new ATH which I expect March to breach with ease.
I will like to note: Monthly candle started on Friday March 1.2024
This is only of importance for the next sessions of intraday.

Weekly candle has not closed yet. I will add and update this idea once the weekly candle closes.
Still momentum should carry us above 18144.75



Lets take a look at our environment.

Dollar's( DXY ) inverse correlation to equities has not been too evident the last Month.



Evident has been Dollars quick reprising after rebalancing lower levels.

The quick reprising in this case is the continued push higher by price. You can take this as an unwillingness by "price" to go lower.

Why is this important?
Dollar value affect purchasing power.

Futures Market:

ES ( ES1! )
Looking Bullish as well
Expected to also take out 5123.50



YM ( YM1! )
Also has a daily Bullish look



But will keep an eye out for the weekly close since it is the weakest of the weekly profiles.



ZB ( ZB1! )
Looks like it is neutralizing the downward momentum and is attempting to roll.



All around there are no signs that the Bullish momentum is changing
-IT IS WHAT IT IS TILL IT'S NOT-

I will still recommend to check with the idea once Friday closes.
Once Weekly profile closes on Friday we will have more information about the possible time span of current movement.

1 Mar

Not

1 Mar

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Do not allow impatience to eat at you

1 Mar

Not

DXY

1 Mar

Not

I know this has not been the case lately at least not in any major way but
Bearish Dollar=Bullish Equities

1 Mar

Not

1 Mar

Not

1 Mar

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1 Mar

Not

Small Caps signaling a risk on scenario for some time now

1 Mar

Not

Eyes on Dow

1 Mar

Not

This is a breakout

2 Mar

Not

Here is the weekly candle for NQ confirming what many witnessed this Friday

2 Mar

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ES adding to the narrative

2 Mar

Not

We mentioned the weakness spotted in Dow so we will keep a close eye or YM price action

2 Mar

Not

Small Caps with a very clear message..
They want higher prices

4 Mar

Not

5 Mar

Not

6 Mar

Not

The Beauty of Price Structure

6 Mar

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Nothing Bearish about this

6 Mar

Not

Still Bullish but expecting this kind of re tracement and possible bound after.

7 Mar

Not

Well London had a surprise for us

7 Mar

Not

All of this buying before Powell be careful and wait till this settles you are not missing out on anything it will still be there

7 Mar

Not

When the Big guys are Buying you either get out the way or ride the wave
The choice is yours

7 Mar

Not

8 Mar

Not

Closing the “First”Week of March
We saw, as expected price breach previous Highs and establish a new one.
We spoke also of a Model were Price could reach Lower to establish the Low of Week Between Monday and Tuesday movement.
Price reached lower creating a low of Week on Tuesday 3:00PM - 18082.75
Wednesday and Thursday we saw the reversal but FAILED to create New Hits even as impressive as its run up was.
Friday tomorrow, what is next?
Do we see Friday price action continue with momentum and create yet another high?
It should have done that today.
At the moment Price is stuck between its current range trapped between its internal value areas.
The Macro continues to be Bullish that has not changed and if it does it will be too noticeable to deny.
Maybe it is time again for Price to spend some time consolidating.
Lets find out

8 Mar

Not

8 Mar

Not

Once High of the Week was re-stablished we immediately started distributing it is Friday after all. No reason to continue buying for now.
Price expected to consolidate between range. Enjoy your weekend will update once the Weekly profile is completed and will provide views on what is next

11 Mar

Not

11 Mar

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12 Mar

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12 Mar

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12 Mar

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Looks like Monday stablished a Higher Low
Looking for 18425

12 Mar

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18425 reached now we wait on price I do believe we could see some downside or consolidation

12 Mar

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12 Mar

Not

Direction is dependent on DXY

If it appreciates NQ will go lower
if it gets weaker NQ will go Higher
I would like to see a bounce of DXY but all I can do at the moment is watch patiently

12 Mar

Not

Looking towards a strong close
By creating a possible Low of Week on Monday we can expect Wednesday to attempt to create a new High

12 Mar

Not

We should have a bullish continuation the next 2 days

13 Mar

Not

Expecting a brief drop with immediate search for upside this morning

13 Mar

Not

Lets see if we get the reversal...

13 Mar

Not

13 Mar

Not

Does not look good for the long continuation
Price has steadily dropped since London

13 Mar

Not

Lets see if DXY continues to go down

13 Mar

Not

Oh ye of little faith

13 Mar

Not

Getting ready for a fast move upwards here

14 Mar

Not

The fact that we started March with the Bullish momentum of Feb does not mean price will remain in its course. There is the possibility of a structure shift that already occured.
I explore this idea and the why in this short video

14 Mar

Not

I know we went over this on Monday but the more I look at it the more it makes sense now.
The short video above gives you a brief explanation

14 Mar

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14 Mar

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14 Mar

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They are pushing very hard to avoid price from going down

14 Mar

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14 Mar

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Easy does it

14 Mar

Not

15 Mar

Not

15 Mar

Not

15 Mar

Not

15 Mar

Not

Enjoy your weekend

18 Mar

Not

Your HTF Bullish structure remains intact

18 Mar

Not

18 Mar

Not

18 Mar

Not

19 Mar

Not

This is a critical area for both Bulls and Bears

19 Mar

Not

20 Mar

Not

We should hit this price level before or during the FOMC

20 Mar

Not

20 Mar

Not

"REJECTED"

21 Mar

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21 Mar

Not

A little balance is good

21 Mar

Not

Tomorrow is Friday
Just took out another Higher High
Expecting some form of accumulation and Volatility (Tight range?)

22 Mar

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23 Mar

Not

What happens here?
Strong Bullish momentum HTF
LTF Rebalances- Weakness?

25 Mar

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25 Mar

Not

Now we see the attempt to reach for highs
A little too early in the week for my liking which leads me to belive that something might be up if we do

25 Mar

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26 Mar

Not

26 Mar

Not

Let's make a decision here

27 Mar

Not

Expecting an attempt at High of Week between today and tomorrow

27 Mar

Not

27 Mar

Not

another leg down

28 Mar

Not

Last day of the Month if you have not noticed price has been in a hurry to reach its objectives.
PUA

31 Mar

Not

Hope this gives you an idea of how we are starting April...

1 Nis

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1 Nis

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One more time in case you did not noticed

1 Nis

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Last update
Will start a fresh thread for April