SPX Daily Plan, Tuesday, June 24 – Ceasefire Pop, Dealer Brackets, and Powell on Deck

Overnight ceasefire spike hits tail hedge zone • IC Whale defines intraday range • Eyes on Powell + straddle cap near 6100

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SPX Daily Plan, Tuesday, June 24 (Ceasefire Pop, Whale Brackets, Powell Testimony)

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🎥 Join me live at 8:30 AM ET for SPX prep and market structure breakdown:
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Tap in for levels, flow, and scalping setups.

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CONTEXT

After the U.S. launched a strike on Iranian nuclear infrastructure Saturday (June 21), ES gapped down on the Sunday open to ~5905 — right near the JPM collar zone. Coincidence? I think not.

That dip was aggressively bought. Monday’s session opened around 5965/75 and grinded to a green close at 6025 — a classic RV > IV setup. It’s shaping into a mechanical repeat of Monday’s structure.

The IC Whale laid down clear markers with a large collar: 6055/60 calls and 5985/80 puts, about 3.8k contracts. That defines today's bracketed range.

Then came the kicker — after the close, the Trump administration announced a ceasefire, and ES ripped to 6143. That’s roughly 6090 SPX — a level we’ve mentioned many times as a tail hedge magnet. Coincidence? Again… probably not.

Spot now sits around 6070/75 — suggesting we’ve landed in between brackets. Now we see who blinks first.

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EVENTS TO WATCH

Tuesday, June 24
• 10:00 AM – Fed Chair Powell Testimony (House Financial Services)
• Earnings: Carnival Corp ($CCL), FedEx ($FDX)

Wednesday, June 25
• 10:00 AM – New Home Sales
• Earnings: General Mills ($GIS), Paychex ($PAYX), Micron ($MU)

Thursday, June 26
• 8:30 AM – Advance GDP Report
• Earnings: Walgreens ($WBA), Nike ($NKE)

Friday, June 27
• 8:30 AM – Core PCE (MoM, YoY)

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KEY LEVELS & STRUCTURE

🧮 Straddle EM (Today) = ±28 → 6040–6100
🧮 Weekly Straddle (from Friday close) = 5857–6078 → round to 5900–6100

🧷 5880/85 = IC Whale “floor”
🔘 6000 = MM + GEX supportive flow if back-tested
⚠️ 6025/40 = Chop zone
🎯 6050/55/60 = Battle zone
🚧 6085/6100 = Stall zone
🌀 >6100 = Air pocket

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