SPX Is Getting Very Close To Breaking Out It's Range. April 21st Plan

As I have written everyday since early March, ES was stuck in a extreme dip buying regime, with ES not putting in more than two days of consecutive lower lows, and even single red days being rare. But since April started, this has taken a whole new form to the point where everyday for the past 5 days has played out exactly the same.

On Friday, Monday, Tuesday, Wednesday, and today, ES started the day with a good flush lower to flip sentiment bearish, then the dip has always promptly been bought typically in the morning, to rally back to the 4170 zone which has been has been a magnet area all week.

Late day today though, something different happened, and the dip buy didn’t hold. Readers know why - the core rising channel that has kept me buying dips since early March failed. Now what? In today’s newsletter, I’ll talk what this means and the key patterns into tomorrow, give a visual overview of my core setup (the failed breakdown, which triggered todays 30 point rally), then provide the actionable trade plan for tomorrow