Did SPX Set A Low Today? June 28th Plan

After the the longest consecutive week rally since 2021 (5 green weeks in a row), ES has spent the last week in its first pullback phase, which saw 5 out of 6 days red for the first time in the latest leg of the bull market leg that began in March. There is no coincidence where the pullback ended today: At 4372.

As shared for weeks, this level is a multi-month support shown in green in my below chart. I wrote yesterday “My general lean is as long as 4372 holds (4366 on any quick flushes) then a retest of 4402 remains in play and ultimately 4413”. This played out absolutely perfectly almost to the tick and this morning we dipped to 4371.50 and then put in a fantastic 30 point rally to 4413+. This shows how powerful simple channels can be. In addition to this, today’s rally was also setup by a clean failed breakdown late yesterday.

Was today the low? In today’s newsletter I’ll talk this, then provide an indepth breakdown of the three actionable failed breakdown setups that have occurred in the last 2 days (my core setup and the foundation of my system), then I’ll provide the actionable trade plan for tomorrow.