Afternoon Notes – 3/28/2022

Good Evening:

• I have been wrestling with the website since the market closed. It can be like looking for a needle in a haystack when a problem arises.
• I will save forward commentary for the morning.
• I got so frustrated dealing with the website problems, I am almost tempted to take the next few days off until the calendar quarter ends.
• Today, the S&P 500 ended just short of my 4575 target set last week. The market got a news boost when there were some positive developments in the Ukraine peace talks.
• If you followed the morning numbers, there were a few nice trades.
• An opening drive was rejected at 4552. Then, the index traded sideways while put sellers came out in force and crushed the VIX.
• On the heels of a second attempt at 4552, alongside Russia-Ukraine peace talks news, the index exploded higher. Call buying in the Nasdaq 100, alongside continued put selling in the S&P 500 bolstered the price rise.
• The S&P 500 ended just below the 4575 upper bound I highlighted in the morning commentary.
• I still believe it to be risky to trade in these last few days of the quarter. I have had my fingers burned more than once over the years.
• Subscribers get the chart above with the zones already filled out each morning. All you need to do is follow the price into the green zone, buy, and then sell in the red zone.

A.F. Thornton