Daily Plan 03/16

Rollover week and that means I personally rollover starting today. Personal preference but this is what I have been doing for years and like to keep it consistent. I will continue to observe the H contract for this week as that tracks the index better but start working with the M contract.

Main focus for this week will be how value builds up against last week’s double distribution.

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ES

Main focus for today is 6750 and 55 marking off last Wednesday’s gap and shelf and 6715 and 27 marking off the excess from Thursday and Friday. With sellers looking to avoid acceptance back into last week’s upper distribution and build value lower while buyers look to find acceptance back into last week’s upper distribution and avoid failing back into the lower.

Above 6750 and 55, target 6780 and 6802. Continued strength above and target 6824 and 6835 - 40.

Below 6727 and 6715, target 6691. Continued strength below and target 6670, 6644, and 6636.

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NQ

Main focus for today is 24900 - 925 marking off the start of last week’s upper distribution 24730 - 755 marking off the start of last week’s lower distribution. Possibly rangebound within these two but the goal for buyers would be to trade out of last week’s lower distribution and into the upper whereas sellers look to defend the upper distribution and trade back into the lower.

Above 24900 - 925, target 24985 and 25065 - 090. Continued strength above and target 25165 and 25280.

Below 24730 - 755, target 24605. Continued strength below and target 24560, 24460, and 24390.

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