ES/SPX Plan 7/10/2025 -Bulls Broke Out, Will they Make New ATH's ?
Lets Talk Levels
Market Recap:
As we continue to trend up, price continues to form value at higher and higher prices. Today we opened up higher which was met with supply from 6310 from prior rejection earlier this week. We dipped down to 6280 and formed value higher leading to a break out near end of day closing us back near the high of the week ~6308.
Bulls maintain a strong hold of this trend and bears have quite a lot of work to do to get this to come down. As of now the immediate support areas are 6293 / 6280 below there we likely flush down into 6265s where bears can really get an edge.
Market Sentiment: +1 - 75 Extreme Greed
Market Close Context:
Near the second half of the day, bulls maintained and supported Mondays break down level of 6280s. After hours of consolidation price grinded up into the morning NY open supply zone to close out the day near high of day ~6308. Strong trend overall, immediate zone for bids below on any pullbacks is 6302 / 6293.
On a higher time frame we are currently : Neutral - Inside Week between 6333 - 6231
News for tomorrow: Unemployment Claims 1hr Pre NY Open
Overall Bias: Bullish < 6293 / Neutral 6280-6272 / Bear > 6265
Into tomorrow we have one main inflection points of interest : 6308
Plans that Played Out 7/9 : None - Intra Day Short Taken at 6290 Based on Buyer Absorption at 6293-6295 down into 6282 target zone.
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Pre Market Plan for ES 7/10/2025
Bull Plan Scenario #1 : 6293 Retest Long
This area has served as a pivot area between the 6280 and 6308 zone this week. With some weak intra day structure left behind this afternoons grind up, any flushes that retest the 6293 are of interest as there is a small LVN there left behind from Mon Sell off and todays break out. Ideally we flush and clean up the 6287 poor low and reclaim back above to solidify the zone as bottomed for another leg higher.
This would be as follows:
ES would trade below 6295 - Generates Interest
Price would ideally flush below 6287 and clean up the poor low and reclaim back up quickly, price must not trade lower than 6283 - Critical
ES would reverse and reclaim close above 6293 after probing below - Trigger
Take Profits : 6302 / 6308 / 6315