October 19, 2023 SPX, SPY, ES Trade Plan
Market Recap
Good morning/day/evening traders. Lots of negativity geared at the markets. Bears had complete control yesterday and while we did get a small push and hold of our key critical level of 4345 - sent to our chat room prior to market open - the market couldn’t find much bearing and sold all the way down to one of our downside targets of 4310 and between our last stop at 4290. Looks like overnight action is pointing towards 4290 even hitting…
I would highly suggest you go to the chat room and review some of the intraday comments I left about the trading day, compare it to the chart, and if you are a Volland user to use their new historical data look up feature to see how the data shifting helped push the market further down.
If you haven’t had a chance review my intraday trading rules where I have provided examples of breakouts/breakdowns and failed ones. Please reach out with any questions if you have any.
On to the trade plan…
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Dark Matter Trade - Chat Room on Substack
SPX/SPY/ES Intraday Overview (TL;DR)
Futures action showing us trading near that 4300 SPX level which puts us in the middle of one of our trade bias which is below 4305 target 4290.
We have premarket news and then Powell and other FED speakers today so keep an eye to those.
Thus, if you are a bull you want to get above 4320 to target 4335 and above it target 4350.
For the bears they want to defend…
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