S&P 500 Daily Trade Plan: A 60-Point Slide into the Daily Leg-End

With the VIX Up 14%, Here's How to Trade the Critical 6413.25 Pivot and the Key Resistance at 6431.75.

Scheduled News

Good morning, everyone. Today is Tuesday, September 2nd. I hope you all enjoyed the holiday.

We have certainly woken up to quite a slide this morning, with the market down 60 points. Our Weekend Outlook was incredibly accurate, calling the high at 6489.00 which played perfectly at the Globex open. The market has since sold off, sweeping below 6431.00, popping back to test 6446.75 for a continuation move down, and pushing right through our 6425.00 weekly level.

This morning, we sit patiently on top of our significant daily leg-end at 6413.25. We have ISM Manufacturing PMI news at 10:00 AM ET, so let's get into the levels and prepare for the open.