S&P 500 Daily Trade Plan: Navigating a Massive Options Expiration

With the Market in Balance, Here's How to Trade the 6635.00 Pivot and the Key 'I Like This A Lot' Zone at 6607.75.

SCHEDULED NEWS: NO RED TAG

Good morning, everyone. Today is Friday, September 19th.

It is sure to be an interesting day. We have no red-tag news, however, we have a massive options expiration that we need to be careful about. This could provide a lot of back-and-forth sawing action, so certainly only take trades that you're confident in and that are in process. Today is not a good day to guess.

Yesterday saw extreme bullishness off of FOMC. Price pulled back slightly into our 6616.00 daily level and then proceeded to try to make a new all-time high, failing by just two points. Price has since come down and sat in balance all evening, holding our significant 4-hour at 6635.00. Let's get into the levels.