May 30 Plan

First off. I've noticed a pattern on the last days of the month. Typically an insane move in the last 10 minutes. My goal is to be extremely patient so as to not blow through confidence and capital and instead wait to execute something ITM that cash closes.

Patience. Sizing. EOM insaneness.

Daily chart. The last three days the daily 8e has acted as support. Support is support until it breaks. Daily bias is up. So far the monthly +1 atr has acted as resistance.

On the 4 hour chart a very short squeeze fired after making a meaningful move off the 21e. As price has bounced off the 4h 21e, hourly price has ranged between 5940 spx and 5880 spx. The hourly is in a squeeze as this range PA would suggest.

Down to the hourly chart and MD levels. We've spent the whole week above the MD call trigger and despite clipping the 500 level 2x, we've yet to reach the 618 at 5950. Given the probabilities it could be interesting to enter longer dated calls and exit before the EOD move.

On SPY the hourly ribbon is bearish but support at 587 has held 3x now. This mornings news pushed price down below yesterdays low, immediately got bought up and putting in a bullish divergence. So though the hourly chart is down, we could see significant movement up off of support. I'd only wait until price reacts to support before considering calls. Currently the H21 is acting as strong and consistent resistance.

10m Plan

We have news at 10 so I will wait. I will laugh at considering I've missed it knowing that there's no such thing. 10m is down. If we break the put trigger I can play puts down to premarket low. Once there I will exit and see if we get continuation or a bounce. Only there would I consider calls. Or if the 10m48e breaks, the H21 breaks and PDC breaks, that calls to the call trigger should work. Patience is the key. If it's not obvious I won't take it. I'll let the 'big move' go without me, it's all good. Just because it's a big move, doesn't mean my system suggested I be in it.