Is SPX On The Verge of A Major Breakout? April 14th Plan

As readers very well know, I have been very bullish in ES since early March and the reason is about as simple as it gets: Since March, ES has been inside a picture-perfect, technical rising channel shown in the below chart for weeks, and this means dips will be bought. After a 300+ point March rally though, ES has been stuck in a range all of April, as it builds a large consolidation

I wrote yesterday: “As long as [4105] continues holding, my general lean remains that bulls are in control and that we can continue filling out this 4100-4170ish range”, adding “As long as 4105-4095 keeps holding, I think we likely ping pong inside this range more (perhaps dip there, bounce back to 4135, 4150 etc).” Fill out the range it did, and while ES was too strong to test 4105, we rallied in a clean line back up the range from 4111 to 4150 target, then to the top of the range at 4170ish

We closed today right at massive resistance, can it breakout? In today’s newsletter, I’ll be addressing the big picture structure here, providing some visual examples of my core trading setup and how it was used to capture todays rally, then providing the actionable trade plan for tomorrow