October 17, 2023 SPX, SPY, ES Trade Plan
Market Recap
Good morning/day/evening traders. As I am on travel for work in Greece this week my market recaps will be short, but yesterday we had a great opportunity to long hitting our targets of 4370 and 4380. We even mentioned in the chat room if we want to go bearish we need 4350 to break and not get over our bullish bias at 4355. Bears lost, bulls won.
If you haven’t had a chance, please review
and his video recapping last week’s trading session. Some really good educational content in there to learn the volume profile and how Wick finds his levels.10/09 Weekly Recap Video
On to the trade plan…
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Dark Matter Trade - Chat Room on Substack
SPX/SPY/ES Intraday Overview (TL;DR)
Hardly any movement in futures action as the market awaits retail sales numbers coming out premarket. That news will help push today’s move and most likely trend in the market.
Bulls did some damage yesterday and continue to control the market. Thus if you are a bull you want to see price above 4380 AND to hold to target 4395. If we get momentum and VIX continues down we target 4410 and close a gap at 4402 on SPX. Once we break and hold 4410 we target 4440 - not 0DTE.
For the bears they want to defend…
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