June 10 Plan

Annoying patience. Proper Sizing. KISS.

HTF Context

Daily Chart SPX

Very clearly bullish. Slowish momentum with a squeeze in progress. Most recently dips to the 8e, then 13e, and finally the 21e were all bought. We are at the level back in February that started the major decline in the index. It makes sense that we're taking our time to eat through supply. Ribbon is support. We are not at support on the daily so entering calls to swing is not systematic. Especially because we are at our supply zone from February. Because we're ranging on the daily, scalps feel more appropriate than expecting a final breakout. Plus, once we breakout then we can enter.

Quarterly +1 ATR is right at ATH. We've tapped the 786 level so the odds of achieving +1 by EOM are very high, but again I'd want a entry in the ribbon to consider swinging calls.

4h Chart SPX

The 4h chart naturally reinforces the daily chart outlook. Bullishness with smaller ranges and dips to the ribbon getting bought. The difference is in the monthly levels. We've breached the monthly call trigger, the ribbon is still holding, so the probabilities of greater upside are there. The monthly 618 level coincides with ATH. And +1 ATR would take us to 6277 (ATH is 6147).

6015 to 6025 seems to be a pivotal point. Best to wait to see how we react.

1h Chart SPX

Bullish bias. We are currently at yesterdays high, so very much at resistance. Last weeks close, the Hourly 13e, and key psych of 6000 is support. Tight range. 6020 is resistance. 6000 is support.

On the SPY chart we're also ranging between the MD trigger box. Even tighter actually.

10m Plan

Bullish bias. Entry is IN THE RIBBON ONLY. I will not consider zooming into the 3m chart until we have closed in the ribbon. We are currently at resistance. If there's a tweezer top I may consider scalping puts. We MAY be establish some bearish divergence but EVEN then that just means a move back to the 21 (which is ideal call entry) AND requires an entry at resistance, unless the 3/21 flips. First the 10m has to show the way with a multi candle setup. Then 3/21 can establish as an entry and stop level.