Mr. Fibs - March 6th Market Analysis

News Events Are Back!!!

Mar 06, 2023

∙ Paid

Today’s premarket session has us set up for another gap up today. As I write this, SPY 0.00%↑ is up about one dollar so far, relative to closing price last week. As many seek trades in the initial market hours, I will be waiting patiently for a range and data to give me confidence on trade entries. By waiting, we also get to find setups that play into our edge. We have been swinging $SPY 396 strike calls, so I will obviously scale some more of the remaining contracts today. At the end of the last newsletter, I mentioned to premium subscribers our target for $SPY.

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Mr. Fibs - March 3rd Market Analysis

Happy Friday to all newsletter subs! This week has been an amazing launch of this publication. If you have been reading and think my insights have been helpful, I would greatly appreciate a comment below on today’s post. Whether you are a free subscriber or a premium subscriber, I would like to thank you dearly for the exponential growth of this publication and these write-ups…

2 years ago · 5 likes · 3 comments · Mr. FiBS - .786 sniper 🇺🇸🐍

The main news events I will be watching this week are Non Farm Payroll this Friday at 8:30 AM EST, The Fed Balance sheet at Thursday 4:30 PM EST, and two Jerome Powell speeches, Tuesday and Wednesday at 10 AM EST. Keep this economic data and activity in mind before you take any positions or decide to swing anything with size.

As I stated before this bounce, the market was ripe oversold bounce on the major indexes. We were in long positions early because while others were waiting for their momentum indicators for a hint, we were using downside fibonacci extensions to enter longs on sellers taking profit.

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