3/19/25 Recap

The SPY remains stuck right below the previous breakout level. We are working on our 8th close below the 200 day, this is our longest stay here in a while, our last visit in October 2023 was only a 6 day stay below the 200 day before a move up. We need to get out of this soon because the longer we build down here, the higher the likelihood of a move lower is. Powell today should give us a substantial move after the press conference. If we push lower I’d look for recent lows of 549.68 to hold or we’ve got bigger issues, but on a close below recent lows, you want to close up things. On the upside we have room into that 200 day at 573.13 right now which is lining up with the 21 ema right overhead.

Recent Trades

SIG - In yesterday’s recap we discussed SIG and the recent call buys, a third one came in later in the afternoon that is in the database. This name is up 23% right now to 59+. Impressive move and those $50 calls at 3.7 for April from yesterday are up near 200% a day later.

My Open Book