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Good morning, everyone. Today is Wednesday, September 9th. We’ve come off an unreal day in the trade plan, where we talked about the massive support located at 7686 through 7673, which came into play yesterday perfectly, as this area got three amazing bounces that paid subscribers handsomely.
Yesterday’s inner circle crew continued to light up the scoreboard, and we had many trade plan holders reach out to thank me for such an amazing plan. People were ecstatic in the post-market breakdown. We had a lot of successful traders yesterday due to the Weekend Review’s plan, and we absolutely nailed it. Congratulations to all those who took advantage of yesterday — as we come into the morning, we’re going to do it all over again.
A Note on Today’s Market:
News: No Red Tag news to speak of. We have only President Trump speaking at 9:15 this evening.
Volume: We have an increased Relative Volume of 48%, meaning we have approximately 47.5 points today above or below the overnight highs or lows, giving us plenty of room for range extension today.
Range: Expected range of 65 points. We have already moved 46.75 points this morning, leaving us approximately 18 points left in the tank above or below the overnight highs or lows before the volume adjustment — which is exactly why the relative volume number matters so much this morning.
Gamma: We are currently in Negative Gamma territory, as the gamma flip level has shifted all the way up to our 7750 major area up at the highs. Dealers are continuing to hedge their positions to the downside as momentum seems to increase in the overnight session, pushing us lower.
Trend: Mixed. ES is actually still up on the Daily time frame, but has lost on the 4-Hour and 1-Hour time frames as of last night. This is a huge shift in momentum for us, as it puts us from being pointed up on all time frames to now potentially looking for rotations in both directions — as price proved this morning could be fruitful.
🧠 Current Market Context
The Last Stand for the Bulls
Yesterday we had this massive spot located at 7686 through the 7670.75 area that absolutely had to hold. We made this extremely apparent yesterday in the post-market breakdown and also in the trade plan, insinuating that as long as this area holds, this could be our path back to 7750 and ultimately our road to 7800. This area did in fact play, but it did not give us the follow-through we looked for, and unfortunately has continued to rotate down in the evening session — leaving us down 35 points at the time of this writing and putting us right back down into our lower levels of support.
This normally would be okay. However, as we’ve continued to drift to the downside, we are continuing to lose support, and now we have the massive overhead resistance that we played yesterday for the longs sitting above us. That will be an issue for the Bulls to get through and could continue to keep resistance overhead and keep us sliding to the downside.
