S&P 500 Daily Trade Plan: Navigating a Massive Balance Range with Key Pivots
A detailed ES futures trade plan for October 10th, defining the intraday bullish pivot at 6792.00 and the bearish trigger at 6766.00 in a tight market.
SCHEDULED NEWS
OPTIONS VOL LEVELS
Good morning, everyone. It’s Friday, October 10th, and the bulls have done it again.
We saw an amazing stick save at the lows yesterday, with price holding the significant pivot from Wednesday and launching an incredible 30-point rally. We continue to drift within a massive 5-day balance range, which makes picking a direction extremely difficult. However, the overall daily trend is still up, with the market continuing to make higher lows.
🧠 Current Market Context
With the government shutdown ongoing, the 10:00 AM Red Tag news is tentative and more than likely a no-go. We are sitting directly inside yesterday’s range and in the middle of the weekly TPO profile. This literally means price could go either way.
To frame the day, I am using two key levels from the daily TPO profile as our primary guides for intraday bias.
Intraday Bullish: Acceptance above 6792.00. This would open the door to fill the excess from yesterday and target the 6801.00 - 6808.00 area.
Intraday Bearish: Acceptance below 6766.00. This would signal weakness and likely push us down toward the 6754.00 area.
We will use these TPO levels in confluence with the structural levels below to build our plan.