Morning Insights - SPX / ES

8/21/2024 - Wednesday

Good Morning Traders!

Yesterdays plan was SPOT on as MANY of you know. We did get the smack from the 5640 area which took us all the way down to the 5607.50 daily which gave is a nice 20pt+ pop. This Daily level is still holding now and It is my belief that if this daily continues to hold and we do not lose this area we should make new local highs and could propel us to our weekly target of 5686.75 or even higher to the daily leg end at 5684.

IF by chance this area doesn’t hold the bulls could find them selves in trouble as the next area of support down is 5587 which leaves us having to regain the daily spot we are using as support now at 5607.50. Take a look at the video as I walk through SPX and ES and highlight the area you need to be watching for

Safe trading and lets conquer these markets!
Cheers,
Ryan Bailey

NEWS/ EST

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