Trade Plan for 3/3-3/7
Will the bulls March back in, or are bears in charge?
I started last week neutral for the market, but it wasn’t because I didn’t see the ‘fakey breaky’ on $NQ/Nasdaq futures:
I was open to the possibility of a month end stick save on Friday.
I was more decisive on being bearish precious metals. I was short $GC into last weekend and held through much of the week:
You saw me call a major support for $GC on X Friday morning:
I did not trade oil last week.
Summary of Market Action Last Week:
Indices declined into Thursday, but month ending buying on Friday gave some hope to bulls. $NQ/Nasdaq futures took over for $RTY/small caps futures as the weakest of the week.
Precious metals also took a loss on the week with $GC/gold futures closing red after 8 straight green weeks.
$CL/Crude Oil futures also closed in the red along with $XOP/oil equities back to negative for the last five of six weeks.
Here’s how last week closed out:
For the week ahead (3/3 - 03/07/25)