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Quick Notes- Mar 2, 2021

The battle for the recapture of 3900 remains at the from t of the mind of the traders.

Watching the battle relative to trend and strengthening of move will be your battle to watch.

Tests of 3900 will first reject as they have this morning and 3880 is holding as support. Traders may be waiting to trade the stimulus news, but regardless, we are watching the press from support into resistance and as long as our support levels hold, we should make a run for 3920-3934.

Losing 3880 will bring buyers the first time but if they cannot press us back to 3890, we will test the lower levels of support at 3866 and 3854.

Remember, the bullish press will try every time we dip into those congestion/compression regions.

Lastly, remember the gap traders are going to be attempting the gap fade, particularly if we spike up in the open but lose pressure quickly.

Eyes on the big picture and the power of direction will reveal itself…. if it actually exists.