CPI Wednesday + Major Divergence - What's Next? – June 11 ESDaily Gameplan

This is why we wait - Why we remain patient

Wednesday June 11, 2025

After a brutal Monday for new opportunities, Tuesday did not disappoint.

We tested 6,000. May 19, May 29, and June 4 all rejecting and having selloffs. Then, on June 6, we popped above and bulls have been fiercely defending 6000 since.

Take a look at the chart.

Multiple flushes down and bulls have scooped up at or near 6000 many times.

We were buyers there yesterday -

Twice. I alerted in the chat room and wrote about it in yesterday’s newsletter:

📈 1st Opportunity - FBD 6000. Monday’s low just above the 1st Long Opp of June 9. Acting as key support and the Magnet from Friday, Price hovered a rallied from there early this morning. This give us an opportunity with precise entry criteria to follow. If we move below 6000 and find a bottom above 5993 we can look to be a buyer on the 6000 recovery. I’d want price to take out 5998, and run right into the 2:30AM launch point Monday morning, accept, reverse, reclaim.

Early in the day we bought at 6001 and took ES to 6009 and 6016. Price reversed and stopped at breakeven.

Then price flushed to 5992, found a bottom, and reclaimed 6000. I rebought the second attempt at 6001 and took ES to 6012 and 6027 - I’m still holding that runner.

Then, I sat.

As price whipsawed all day, traders got shaken out. Multiple 20-30 point moves - all inside of the previous days price.

That’s not liquidity.

That’s chop.

And if you tried anything between 6010 and 6040, it was very tough movement intraday.

That’s why I’m a firm believer in letting price work itself out and hold on to the runner. Take profits before all the swings.

Late in the session we broke to new highs. 6049.

On a previous high retest, I took a 3rd trade long using only the profits from the first two - and alerted everyone in the chat. There was little time left in the day, and the bulls had run their course.

I took a partial 7 point loss - filled at 6040 and out at 6033.

Now today something is glaring at me

This negative divergence is hard to ignore

Will it mean anything as bulls again try to defend 6000?

CPI out this morning and it surely is going to have markets moving.

It’s imperative we don’t overtrade and we wait for our spots.

I’ve got the opportunities below.

I wrote this yesterday and I’m writing it again as a warning sign…

We’re starting to show topping signs in price behavior and (as you’ll see in the support and resistances below) just before several multi-layered complex CA’s above.

We will not be able to punch through these like we did 5956-5971 without something special.

My bet - the same price path ES always takes - a liquidity hunt, a structure reset, and then the real move.

Our job is to get in before the real move.

Let’s discuss where that might be in today’s letter.