Levels and Thoughts for Wednesday 3/8/23

Hawkish Jerome delivered what bears wanted. Now what?

Great day as outlined already in twitter post. Here is what I gave to sub stack subs yesterday nights. we stayed short all day in RTH

Futures Trader @FutureTrader400

We were short below 42 after Powell. We stayed short as 26 held. We shorted 26 again on all spikes. Taking full advantage of the script that was provided at night. Just magical when almost every day these scripts are working #ES_F.

Futures Trader @FutureTrader400

Now we flipped from 4042 and 40+ points. This was given yesterday night on sub stack too. #ES_F. You can make it easy or complicated. No bias. Just trades.

Futures Trader @FutureTrader400

Here is how we traded. Called bottom at 4042 in night session. Longed RTH open at 60, the again 70's twice got out of longs at 80's. We did get couple -2's in afternoon. #ES_F https://t.co/98f0Ptngfi

Econ Tomorrow:

08:15 EST ADP Nonfarm Employment Change (Feb)

08:30 EST Trade Balance (Jan)

10:00 EST Fed Chair Powell Testifies

10:00 EST JOLTs Job Openings (Jan)

13:00 EST 10-Year Note Auction

14:00 EST Beige Book

I suggest to not trade night session from 10 pm to 2 am chop. If action has to happen than it will happen before 10 pm or after 2 am EST. You can generally play edges to short and go long after 2 am. But get out of the way if it rips thru edges and wait for new opportunity or flip. And of course never add to loser and better yet cut it and reset.

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