S&P 500 Daily Trade Plan: Balancing Between Two Key Dailies
After a Perfect Rejection, Here's How to Trade the Pivots at 6503.50 and the 'Favorite' 4H Leg-End at 6440.00.
SCHEDULED NEWS:
Good morning, everyone. Today is Tuesday, September 9th.
Yesterday was a pretty awesome day in terms of our plan. The weekend review played out beautifully, with the daily level at 6516.75 getting tested to the tick before bringing us all the way down to our untested daily at 6489.50. That level then provided a strong rebound into the close and a drift higher all evening, which has now cleaned up all the market efficiencies from Friday's profile.
We've balanced all night in a tight 19.5-point range. With no red-tag news today, it could be a relatively slow balance day, but the trend is still up. Let's get right into the levels.
🧠 Current Market Context
After yesterday's pop from the 6489.50 daily, we had a solid 4-hour close overnight, creating a new 4-hour leg up. We are currently sitting in a balanced state between two significant daily levels. With an expected range of 54 points today, we have approximately 35 points of movement left from the overnight high or low. The trend is up, so we look for opportunities to join it.