S&P 500 Daily Trade Plan: Core CPI Day & The 6835 Ceiling Holds
A detailed ES & VIX plan for March 11th, breaking down the 6835 daily resistance ceiling, the 6761.75 weekly base pivot, and the VIX 24.70 monthly breakout barometer.
SCHEDULED NEWS
OPTIONS VOLITILITY LEVELS
Morning everyone. Today is Wednesday, March 11th, and we come into another day offering incredible trading as our important Weekly/Daily combination at 6761.75 and 6772.75 confirmed yesterday and sent us higher just as the plan predicted. However, members were able to catch a beautiful exact touch of the Daily short at 6835 — it paid a fabulous 17 points — and then again with the massive short at the highs at 6847.25 that brought us down 70 points at the end of the day. It was a phenomenal day yesterday for trade plan subscribers. We had some serious money being put on the board, and I appreciate everyone reaching out thanking me for such precision plans. Congratulations to all those who took advantage — lots of money was made. So now we are here to do it all again today.
As we come into the day, we have Red Tag news this morning pre-market and it is going to be a biggie — Core CPI month over month and year over year. This is a big inflation number that we need to keep track of, as it is sure to move the market. Last night we drifted back and forth in our major support areas, held up by our Weekly/Daily combo at 6761.75 and 6772.75, only to traverse sideways in the middle of the night as we balance in our major zone from yesterday. We are still directly in the middle of yesterday’s range and value, as market participants have yet to determine a direction. It will be an interesting day today, and we can expect a breakout at some point above or below yesterday’s range.
A Note on Today’s Market:
News: Red Tag news this morning pre-market — Core CPI Month over Month and Year over Year. This is a big inflation number and is sure to move the market. Even with reduced relative volume, this could be a very interesting day. Be prepared for anything.
Volume: Relative Volume is negative at -25%. Fewer participants than usual, but the Core CPI release could override this significantly.
Range: Expected range of 126 points. We have already moved 54 points in the overnight session, leaving us approximately 70 points above or below the overnight high for a potential move.
Gamma: We are still in a Negative Gamma regime. Dealers continue to hedge to the downside. Anything can happen and we need to be prepared.
Trend: Downside lean. We have not gained support on any timeframe — Weekly, Daily, 4-Hour, or 1-Hour. We are still very much pointed to the downside. We need a 4-Hour close above 6847.25 to shift momentum in the favor of the Bulls even slightly, and with a lot of overhead resistance, that will be a significant challenge.
🧠 Current Market Context
The Range Balance & Core CPI Catalyst
We are currently distributing in a sideways fashion, stuck directly in the middle of yesterday’s range and value. Last night we drifted back and forth in our major support areas, held up by the Weekly/Daily combo at 6761.75 and 6772.75. Market participants have yet to determine a direction, and we can expect a breakout at some point above or below yesterday’s range. The question is: which direction? With Core CPI pre-market, that catalyst may arrive very soon.
