SPX Trade Plan — January 9, 2026

All week I have been talking about how we’re likely in the early innings of a 1999-type melt-up—the one we were promised in October but was put on hold. Every day I become more convinced this is the case. Breadth remains robust, as seen in the breakouts to all-time highs in the IWM and RSP. Whether this continuation holds through next Friday’s OPEX will be the real test; until then, the path of least resistance remains up.

Today’s Trading: The Supreme Court Wildcard

Today’s session is dominated by a major catalyst: the Supreme Court decision on President Trump’s emergency tariffs, expected at approximately 7 AM PST (10 AM EST).

Execution Levels

Long Plan

• Reclaim: A reclaim and hold of 6947 sets up a move to 6980 with 6954, 6964, and 6971 as interim levels.
• Continuation: A push above 6980 sets up a path to 7000, with 6985, 6992, and 6995 as interim levels.
• Stretch: Through 7000 targets 7040 with interim levels at 7005, 7015, 7020, 7025, 7032, and 7035.
• Dip Buys: Look for a retest and hold of 6925 for a long back to 6950; 6900 also serves as strong structural support.

Short Plan

• Breakdown: A break below 6925 targets 6914, 6910, and 6900.
• Flush: A breakdown below 6894 triggers a deeper push toward 6875, with intermediate levels at 6888, 6884, and 6881.
• Short Pops: Looking to fade strength near 6950 and 6975 if the news reaction stalls.

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