Trade Plan for 2/24-2/28

The last week of February will be clutch for the Market

Last week I went to a more neutral ‘bull until proven bear’ bias for indices, as I took a levels based approach. On Friday morning I wrote:

When $ES/SPX futures price action lost that 6123.50 that created a big flush, indeed. ✅ I have held shorts in both $META and $NFLX over the last couple of weeks. 💰 This week I outline where I may want to buy $TSLA.

I was cautious once again in playing precious metals to the long side. I took several long scalps for crude, and was hoping to swing it a bit higher, but price action fell with the indices at the end of the week once again.

Summary of Market Action Last Week:

• Indices chopped into Thursday, but Options Expiration Friday was a blistering red day across the board. $RTY/small caps futures continued to be the weakest link, but this time in a more extreme fashion.

• Precious metals, led by $GC/gold futures, held relative strength despite the indices, but even that outperformance couldn’t save $GDX/gold miners from closing in the red.

• $CL/Crude Oil futures closed slightly in the red once again, with $XOP/oil equities holding relative strength to indices, but back to negative for the last four of five weeks.

Here’s how last week closed out:

For the week ahead (2/24 - 02/28/25)