S&P Edge (ES) Daily Trade Plan: The 120-Point Catapult & The 6977 Weekly Gap Fill
A detailed ES & VIX plan for Jan 22nd, breaking down the 6977.75 Head & Shoulders, the 6942 Barometer, and the GDP/PCE Volatility.
Scheduled News
Options Volatility Levels
Good morning. Today is January 22nd, it is Thursday.
We come off an insane volatile day yesterday with the trade plans leading the way, letting us know that we were at the SPX Leg End and approaching serious support. We were queued to look for longs on a gap up, and that’s exactly what happened, scoring big money for the members who paid attention.
Another factor with yesterday’s insane volatility was Trump talking about his deal with Greenland; as he decided to back off and take a different approach, the market was happy about the whole ordeal. With that being said, we catapulted yesterday from the lows over 120 points with a continuation in the overnight of over 40 points at the time of writing.
A Note on Today’s Market:
News: 8:30 AM Final GDP and Unemployment Claims (Red Tag). 10:00 AM Core PCE Index (Red Tag). Both are extremely significant; look for a severe shake around these times.
Volume: Relative Volume is +18.6%, letting us know we have slightly larger than average market participants.
Range: Expected range is 76.25 points. Overnight range is 44.75, leaving approximately 32 points left in the expected range.
Structure: We have officially gained on the 4-Hour timeframe. We have yet to gain on the Daily, but the Weekly has not lost yet; all we did was sweep the significant weekly low and reclaim, working our way back up to potentially fill the gap from Sunday.
🧠 Current Market Context
We have been pushing up all night after testing our significant daily level at 6912.25 and our 4-Hour support at 6913.25, which led us into a 40-point push all the way into our next untested Daily at 6953.75.
We have now also tested our very significant Daily at 6942. This daily has been an important pivot for us for weeks and will continue to be one today. It is now tested; however, we need to be using this as a barometer for more above or below. Make sure you have this price level on your chart.
