Power Plays Weekly Roundup
March 3, 2023
By Scott Redler
The market remains in a tricky spot
The SPY and QQQ both did Red Dog Reversals yesterday, and we are getting some upside follow-through this morning.
However, I still think it's time to be cautious when looking at swing trades on multi-day or multi-week time frames.
The 10:00 ISM number was a little hot, and there's worry that next week's jobs number could be hot as well.
That could push the Fed to get even more hawkish.
So I'm still treading very carefully in this tape.
I have a few longs on below, but my exposure is pretty light overall because it's hard to add on strength.
You can see this in my disclosures below.
Hopefully we'll have some prime opportunities to add new longs next week.
But in this tape, we can't rush into anything.
Enjoy your weekend!
Scott Redler Positions Disclosure as of 2023-03-03 at 10.38.45 AM