ES/SPX Plan 7/16/2025 - Will Todays Sell Off Continue?
Lets Talk Levels
Market Recap:
Bulls have continually made new highs that where met with strong supply < 6335 after having tried to break and hold above 6325 4x and failed we ended up stair stepping down into 6280s bringing us back to the Sunday Futures Gap Down level.
Market Sentiment: - 1 - Extreme Greed
Market Close Context:
Into the close all market internals shifted deeper into the red, with the NQ putting in a its exhaustion sell late afternoon causing the ES to further sell down into 6275 where we spend most of the night trading during sunday ETH. As we approach the 6269 weekly low will demand hold and make another reclaim of 6280 or will we cave down to 6231?
On a higher time frame we are currently : Failed Weekly Break out Below 6335
News for tomorrow: Core PPI Pre Market 1 Hr NY Open
Overall Bias: Neutral 6269-6280 / Bear < 6260 / Bullish > 6293
Into tomorrow we have one main inflection points of interest : 6293
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