S&P 500 Daily Trade Plan: A Volatile Battle at the Gap Fill
With a Packed News Slate, Here's How to Trade the Key 6474.75 Resistance and the 'Prime Buy Area' at 6440.00.
Scheduled News:
Good morning, everyone. Today is Thursday, September 4th.
We had a fascinating close yesterday, with a classic ES pump in the final 10 minutes that rallied the market 30 points and saved the significant weekly at 6425.00. Overnight, we've drifted and stayed in a range between our key levels.
It is sure to be a volatile day today. We have a slate of red-tag news events, including ADP Non-Farm Payroll and Unemployment Claims pre-market, and ISM Services PMI at 10:00 AM ET. With an expected range of 60 points and low relative volume that could explode on the news, we need to be sharp. Let's get into the levels.