S&P Edge (ES) Daily Trade Plan: Bulls Regain Structure & The “Fat Zone” Buy
A detailed ES daily plan for Nov. 26th, breaking down the 4-Hour reclaim, the “Fat Zone” at 6765-6761, and the VIX tailwind below 19.13.
Scheduled News:
Options VOL Levels:
Good morning. Today is November 26th, it is Wednesday.
Yesterday was an incredible day where we essentially caught the low and were able to call the long all the way up to 6767.00 and even higher into 6788.00, making a total of 100 points from low to high. Congratulations to all those who were able to turn yesterday’s volatility into serious profits.
A Note on Today’s Market:
Range: Total expected range is 128 points. We have moved 32.5 points, leaving approximately 100 points left in the tank.
Volume: Relative volume is -29%. Do not assume the tight overnight range means a slow day, but with low RVol, we could have a “slow grindy day” all in the direction of trend. It is advisable not to fade the trend.
News: Red Tag news this morning pre-market.
🧠 Current Market Context
Yesterday, the Bulls accomplished a major feat by being able to gain on the 4-Hour and the Daily timeframe, essentially cementing their bullish reclaim of support. This has given us even more reason to believe that we could push higher.
In the overnight session, we drifted up over 20 points, hitting our head on the 6809.25 4-Hour and the 6805.50 Daily. We are now sitting directly above our significant weekly at 6788.50. Right now, all signs point to “up” with VIX being down. My bias is long, looking for pullbacks to support structure.
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