July 3, 2023 SPX, SPY, ES Trade Plan
Hello team and an early Happy 4th of July.
I won't be trading today. Who knows what today will bring and with minimal volume the session could see some traps and reversals. Avoid 0DTE expiry take weeklies. Markets will be closing earlier today.
With that here are some key $SPX levels:
Bulls will want to keep price above 4420-25 targeting 4475. I would wait till here to long or go long above 4455-4460 targeting 4475.
Bears will want to keep price below 4420 targeting 4405. I would even consider taking a short at 4440 targeting 4425-4420.
Keep an eye on $TSLA - if it starts to sell its news on deliveries the market will follow.
$ES levels add 38pts. $SPY levels divide by 10.01.
Don’t forget to watch for updates on Volland30 and keep an eye out for VOLD for trend continuation or reversals.
For intraday updates please follow me on Twitter @DarkMatterTrade.
To cover our basis…
Welcome to my Substack where I provide a daily SPX trading plan to help guide my intraday trading. The purpose of this letter is not to advice you on your trading or investment decisions. I am simply documenting my daily trading plan for myself to help with planning and execution. These are simply my opinions and the data sourced from the likes of vol.land, TradingView, Quant Data and others. The stock market is risky, gains are not guaranteed. This is not about getting rich quick, but learn to educate yourself and make the necessary financial decisions on your own. This is not financial advice.