US Large Caps in Focus - position changes BA, GOOG, GM, TSLA, HD, DE (23 March 2026)

US Large Caps Mar 23, 2026

Pre US market open we are seeing Oil breakdown, US Index futures spike at 480 minute level and below (we think the 80 day cycle trough has just been aggressively tested), VIX futures challenge the bottom of their daily range, and Bond prices bounce at all intraday levels. This is ostensibly on Trump comments, but the force of the reaction so far shows us that the market wants to bounce and that a lot of the negative news-flow might be priced in.

Position changes - you can view all calls in the archive:
- BA US (Boeing) Short from 3o January @ 233.2. Cover at Open 23 March. Performance into last Friday +16.4%.
- GOOG US (Alphabet) Short from 5 February @ 313.2. Cover at Open 23 March. Performance into last Friday +4.6%.
- TSLA US (Tesla) Short from 5 February @ 397. Cover at Open 23 March. Performance into last Friday +7.3%.
- GM US (General Motors) Short from 10 February @ 81.1. Cover at Open 23 March. Performance into last Friday +10.2%.
- HD US (Home Depot) Short from 17 February @ 381.5. Cover at Open 23 March. Performance into last Friday +15.9%.
- DE US (Deere) Short from 24 February @ 643.3. Cover at Open 23 March. Performance into last Friday +13%.

Open calls are now entirely flat and we will start a new raft of calls, probably starting with Shorts in the Energy and Defence space.

Christopher Grafton CMT

Chris has been involved in the markets for 20 years. He is the author of Mastering Hurst Cycle Analysis and is an experienced working technician. Chris holds the CMT qualification.