S&P 500 Daily Trade Plan: All-Time High Price Discovery & The 7542 A+ Buy Zone
A detailed ES & VIX plan for May 29th, breaking down the 7577.50 first buy, the 7557.50 untested 4-Hour, and the 7542 A+ daily leg up.
SCHEDULED NEWS
No Scheduled News
OPTIONS VOLITILITY LEVELS
Morning everyone. Today is Friday, May 29th, and we come off another incredible day in the trade plan where the accuracy continues to be amazing. Our 7527.00 Four-Hour on ES and the 7509.00 on SPX both played perfectly on the retest pre-market, and were then followed by solid Trump news that the war may be ending in Iran — which propelled us up over 60 points yesterday, with 45 of those points coming in less than two minutes. That sent us straight to the all-time highs, and we’re still traversing and surfing new price discovery as we speak. Congratulations to all those who took advantage — we made a ton of money super early and were able to cash out by 10 AM. It was an absolutely incredible day.
As we come into the morning, we’re looking to have another awesome day. We sit just below the 7592.00 Call Wall at fresh all-time highs, hovering right above our developing 7577.50 Four-Hour — and the entire structural picture remains in buy-the-dip mode.
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A Note on Today’s Market:
News: No Red Tag news to speak of today — in fact, no news to speak of at all. The session will be driven purely by structure, flows, and positioning rather than any macro catalyst.
Volume: Relative Volume is -26% this morning, which gives us a low, muted environment. This is exactly the kind of low-volume, gamma-squeeze backdrop where price drifts — it is not a tape to fade.
Range: Expected range of 64 points. We moved only 23 points in the overnight session, leaving us approximately 41 points above or below the overnight high or low. However, with Relative Volume at -26%, that could potentially reduce our range by about 10 points, leaving roughly 31 points above or below the overnight high or low for our expected range.
Gamma: Positive Gamma. Our gamma flip level is all the way down at 7400.00, which basically puts us in Positive Gamma territory for almost 200 points. Dealers are clearly hedging to the upside as we continue to traverse higher in price discovery mode.
Trend: Up on every timeframe — Weekly, Daily, Four-Hour, and One-Hour. We are traversing all-time highs in price discovery mode, fueled by a gamma squeeze and a low relative volume environment. This is a buy-the-dip environment — do not fade trend.
🧠 Current Market Context
Surfing All-Time Highs in Price Discovery
We continue to drift higher in all-time high price discovery mode, fueled by a gamma squeeze and a low relative volume environment. One of the things I always preach: when we are trending up, surfing all-time highs, with low relative volume, this is not a time to fade trend. We do not know where price will roll, as we have no upside targets to speak of other than our options targets where we know dealers are hedging their positions. Other than that, we have no structure to lean on. Trying to pick a top here is a very dangerous play — the easier play is being patient and waiting for a buy-the-dip moment.
