ES/SPX Plan 7/8/2025 - We got a red day will it Continue or wait for FOMC?
Lets Talk Levels
Market Recap:
Today ES put in a sell side day, putting in a capitulation day of the stuck supply from 7/3 highs and dip buyers getting spanked as we shifted value below 6292 which led to the leg back down into 6258 where the prior 2 day balance high was made.
Market Sentiment: -3 - 75 Extreme Greed
Market Close Context:
As we dipped into the close, bulls managed to put in a failed break down of the 6258 prior balance highs. The failed break down is live as long as the 6246 low holds, this will likely push to revisit into 6280 to see if any overhead supply is there, if bears are motivated they will hold below to push price back into 6250-46 to break down to 6231 prior balance lows, where bulls should try their luck once more. Bears failure to hold 6280 then we revert back to 6292s where we spend most of Sunday ETH trading.
On a higher time frame we are currently : Neutral - Inside Week between 6333 - 6231
News for tomorrow: No News Events
Overall Bias: Neutral at 6280 / Bear < 6250 into 6231 / Bull > 6292 into 6308
Into tomorrow we have one main inflection points of interest : 6280
Bull Plan that Played Out 7/7 : 6258 VAH FBD
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