Mr. Fibs - 3/16/23 Market Analysis

Good morning traders! I wanted to start off today’s newsletter by thanking all the premium subscribers of this publication. We are officially a best seller on Substack. I have been grateful to see the community multiply daily and I love trading with yall. If you are not subbed, make sure to click the button below to get daily emails, levels, options trades, and live market commentary. On to the news now.

This morning we received key economic data. These include:

1. US INITIAL JOBLESS CLAIMS ACTUAL 192K (FORECAST 205K, PREVIOUS 211K)

2. U.S. Housing Starts MoM For Feb. 1.45M vs 1.31M Expected

Because we had NFP already, I feel like the jobless number is of much less focus to the market and traders. What does interest me is this housing starts number. Housing starts is one of the several leading economic indicators that traders use to predict real GDP before its quarterly print. The 13.8% increase in new construction projects tells us that there housing market may be able to stimulate construction jobs and the purchase of building materials. We have previously seen weaker housing start data over the last year, but this data could point to slight economic growth, unlike the previous data prints.

The remaining things to remember at the end of this week are Quadruple Witching, Consumer Sentiment data, and any bank developments we see. I expect continued volatility this week, so I am only trading setups that play into my edge. As I often say, make sure to follow the theme of this market as of late. “Don’t Oversize and Don’t Overstay.”