S&P 500 Daily Trade Plan: Pushing for the All-Time High

With GDP and Jobless Claims on Deck, Here's How to Trade the Key 6503.75 Resistance and the Main Support at 6475.00.

Scheduled News:

Good morning, everyone. Today is Thursday, August 28th.

We had quite an interesting evening. After Nvidia's earnings, the market got smacked down to our significant leg-end support around 6460.00 from yesterday's plan. That level held perfectly and propelled us all the way back up in the overnight session to a new high from yesterday's RTH session.

However, we need to be very careful this morning. We have Unemployment Claims and Preliminary GDP pre-market at 8:30 AM ET, which is sure to give us a shake. Yesterday, the market rejected perfectly from the previous RTH all-time high at 6502.50, so while the structure is bullish, sellers are present. Let's get right into the levels.