October 24, 2023 SPX, SPY, ES Trade Plan
Market Recap
Hello fellow traders. Yesterday’s trading session was a classic day of accumulation and then distribution fully controlled by 0DTE paradigms. If you haven’t had a chance to learn some of the 0DTE paradigms I would suggest you watch this video from vol.land on Youtube.
We had range on both sides, but what was so interesting was how quickly the lows of the intraday session were bought and now we see this large gap up in the futures market.
Big day of tech ER’s after the close with the likes of GOOGL and MSFT posting results. I wouldn’t be shock if we have range like we did yesterday where potentially we gap up like we are only to sell some of it off. How we close the day will be a sign of what the market expects these two companies will report on ER.
Besides our earnings reports today we do have data coming out this morning after the market open with manufacturing and services PMI.
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SPX/SPY/ES Intraday Overview (TL;DR)
We have a gap up in the market with news coming out at 9:45am est and then we have ER’s after close.
For a continued bullish move we need to break above 4250 to target 4265. Above it will target 4275 then 4285.
For the bears…
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