May 2 PM Plan

Yesterday's bullish gap up is holding and continuing. The 4h 21 is holding strong as support and we're headed towards this months 386/gg trigger. The SPX chart holds similarly with rejections off the swing/monthly call trigger yesterday turning into a full on move up through the call trigger and up to the 386. Of note, the previous supply / pivot on April 2nd was 5696. That is a natural point to hit and then potentially pullback.

The hourly on both SPX and SPY are firmly bullish. But, we're running into last month's high- also a natural pullback point.

The 10m is confirming this consolidation right at the high and the daily 618. I'm being extra cautious of recency bias, given yesterday we essentially did the same thing and had a buyable reversal down to the H21. I "missed" it yesterday because I wasn't cognizant of the bearish divergence from premarket.

Let's see what's present today, given the Hourly bias is very clearly up- which means calls at support/in the ribbon only. But, if we get our bread and better 3m vommy, scalping puts is justified.

This afternoon's plan. Bullish bias. Dips into the ribbon are buyable. However, there is divergence and we are consolidating at the 618. If we can't make a higher high, this is not the worst place to short down to the ribbon.