3/20/26 Recap
Sorry there won’t be a recap today, my data feed is not opening and I cannot log anything. The CBOE knows the issue and is working on it. I’m going to link the database so you have it until monday and later today if/when it gets up and running I will fill things in.
As for levels to watch, the SPY is now on its second day below the 200 day this is simply a downtrend, as I said yesterday, do not fight it, you need to see the 8 ema and 21 ema come down, flatten out, and be reclaimed before you can think about longs and a sustained uptrend is not a serious consideration until that 200 day above is reclaimed. This is major carnage right now and you can see yesterday how even with that huge late day relief rally we closed right under the 200 day. That was a perfect trap of the bulls overnight. 660.39 is the 200 day on the SPY right now and we’re taking out yesterday’s lows at the moment, not good.
The QQQ is the same deal, just sustained weakness as the VIX remains bid. We’ve seen this on friday’s the last few weeks, nobody wants to hold into the weekend with who knows what coming from the war. Again just like topping is a process that took months, bottoming is a process too and we want to see these moving averages be reclaimed, the objective isn’t to try and be a hero trying to time a bottom, its about pressing things once the uptrend resumes.
Have a good day and I will see you on sunday morning with a best idea for the week ahead.