S&P 500 Daily Trade Plan: Navigating All-Time Highs and Consumer Sentiment

With the Market in a Precarious Position, Here's How to Trade the Key Pivot at 6591.75 and the 'Wonderful' 4H Leg at 6507.75.

SCHEDULED NEWS

Good morning, everyone. Today is Friday, September 12th.

We have another big day of news ahead of us, with Consumer Sentiment and Inflation Expectations at 10:00 AM ET. Yesterday, our plan worked out perfectly as we swept the pivot low, held 6535.00, and launched to new highs, just as the plan dictated. The market didn't play any games, opening at the highs and buying strength all day. As we discussed in the Weekend Review, once we broke out of that four-week balance, we anticipated an extraordinary push, and we got it.

However, that leaves us in a precarious position today, balancing at all-time highs with no structure to lean on. Let's get right into the levels.