S&P 500's Day of Reckoning: Navigating the 130-Point Cliff Edge
ES Trade Plan for August 21st, 2025. Key levels at 6425.00 and 6431.75 define the battleground as high-impact PMI and Jobs data looms.
Good morning, traders, and welcome to Thursday, August 21st.
Brace yourselves, because today is shaping up to be a big one. We have a gauntlet of news on deck: Unemployment Claims and the Philly Manufacturing Index hit at 8:30 AM EST, followed by the Flash Manufacturing PMI at 9:45 AM EST. This is a recipe for volatility. The market is already pricing in at least a 48.00-point range, and with an overnight move of 25.00 points, we can expect another 23.00 points of movement at a minimum.
Yesterday woke everyone up. We saw an insane smack from our 6431.00 daily level and a powerful squeeze from the 6363.00 area that rocketed price right back to our weekly level at 6425.00. Relative volume is already up 6% this morning—traders are here to play, and we need to be prepared.