S&P 500 Daily Trade Plan: Navigating Core PCE After Hitting New Highs
With the 4-Hour Showing Weakness, Here's How to Trade the Key Pivots and the 'Best Probability' Long at 6413.25.
Scheduled News:
Good morning, everyone. Today is Friday, August 29th, and it's sure to be an interesting day. We have huge news this morning pre-market with the Core PCE Index at 8:30 AM ET, which is sure to give us a shake.
Yesterday was a fantastic day. The plan worked beautifully, with the market coming down to play our 6480.50 level to the tick before producing new all-time highs, just as predicted. Congratulations to everyone who followed along. However, the mission is complete—we have now tested and exceeded the prior Globex all-time high. In the overnight session, the market has sold off 24 points and now sits at a critical daily pivot. Let's go over the levels.