S&P 500 Daily Trade Plan: Surfing All-Time Highs After a Hellacious Squeeze
With Core PPI on Deck, Here's How to Trade the Key Support Pivots at 6533.50 and the 'Fantastic' 4H Leg at 6507.75.
SCHEDULED NEWS
Good morning, everyone. Today is Wednesday, September 10th.
Yesterday was an insane day that led to a hellacious squeeze. The plan to look for a bounce from the 6489.50 daily played out to the tick, launching a monster 50-point pop that has us surfing new all-time highs in the Globex session. We now have a new RTH all-time high as well, giving us fresh targets to complete.
We have large news coming in at 8:30 AM ET with Core PPI, so let's take a look at the levels and figure out what we need to play after the bell.
🧠 Current Market Context
We are in a powerful uptrend, currently in price discovery mode after making a new all-time high overnight. The cash session will likely want to target and repair this new high. The plan is to look for key support levels to hold for a continuation of the trend, but we must be careful with the pre-market news.