ES/SPX Plan 7/7/2025 - Bulls Dominate, Can they Continue for 10 Days?
Lets Talk Levels
Market Recap:
ES remains in a parabolic leg higher, we took a breather during the ETH 7/4 holiday as we pulled back from 6333 close down to 6283s at the end of the short trading day session.
Overall value has shifted higher over the last 8-9 sessions with a short term balanced area between 6231-6258. This area having formed a base at can be a magnet for price similar to the 6080-6007 zone we had a few weeks ago.
Market Sentiment: 78 Extreme Greed
Market Close Context:
We remain in a fairly strong trend up, into the close today we left some short term supply above 6308 - 6330 where value formed at 7/3 close and price drifted lower cleaning up the imbalance from 6280 - 6320s that formed. As we form value below 6320 the question will be can bulls reclaim back above 6308 to continue higher or will we distribute back into the prior balance zone between 6260-6230s?
On a higher time frame we are currently : Parabolic above 6308 / Balanced < 6260
News for tomorrow: No News Events
Overall Bias: Bullish above 6292 into 6308 / Bear Below 6280 back to 6260-45
Into tomorrow we have one main inflection points of interest : 6280
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