S&P Edge (ES) Daily Trade Plan: The 6883 Weekly Hurdle & “Prime” Buy Zone
A detailed ES, SPX & VIX plan for Dec 5th, breaking down the 6883 weekly resistance, the “Prime” 6865.75 buy zone, and the VIX pivot at 15.73.
Scheduled News:
Options VOL Levels:
Good morning everybody. Today is December 5th.
We had an incredible short yesterday from the trade plan. We had the very high at 6879.25 that lined up perfectly with our 4-Hour and Put Wall; this sent the ES down over 40 points in an hour for spectacular gains. However, at the end of the day, the Bulls won again as they swept the AM low and bought all the way back up through the overnight session.
We are currently up 13 points as we hit our head on our significant weekly at 6883.84. We have talked about this weekly so many times as this is so ridiculously important. A push above this is another hurdle over to attempt our move into All-Time Highs.
A Note on Today’s Market:
News: Big news Post-Open at 10:00 AM ET: Core PCE, Consumer Sentiment, and Inflation Expectations. Be prepared for a shake.
Range: Total overnight range is only 25 points. Expected range is 60 points.
Volume: Relative volume is down significantly at -49.5%. Only half of the participants are in the market.
Condition: The market is extremely fragile up here. News or any disruption could send the market swiftly in either direction.
🧠 Current Market Context
The market is extremely fragile. We are bumping our head on the significant weekly at 6883 while VIX is sitting directly on support. With relative volume so low, any disturbance in the VIX could pop it significantly, sending the indices down.
We need to be prepared for anything possible. The goal is to monitor the breakout above 6883 or the pullback into our “Prime Buy Zone” at 6865.75.
