October 3, 2023 SPX, SPY, ES Trade Plan
Market Review - Last Session
Well today was tough, let’s not lie. We had an amazing gap up in futures action overnight and sometime around 4am est we immediately started to begin a sell off that continued into the morning hitting a low of 4295 where it finally found balance and pushed up towards 4320 - these are ES levels.
SPX opened at 4283 went as high as 4295 where it sold off towards 4280 and then pushed back towards 4300 where on the second attempt of breaking this level it came crashing down to target 4260 before finding balance there.
Today’s 0DTE action had all of the major Volland paradigms - from GEX, to Anti-Gex, to Sidal which gave us that whipsaw action and then finally BofA. If you are curious what these paradigms are and if they are bearish or bullish I suggest you review this video made by Wiz the creator of Volland.
The range of the intraday trading session played out within our trade ideas between 4300 and our low of 4275 hit, although we did selloff towards 4260 missing our second trade idea.
Which let’s discuss…typically the 2nd trade once in a direction always look at updated data, trend, shorter timeframes for potential reversals. Volland did show the 4260 level holding to target 4280 and that 4260 level became a negative vanna through the intraday session. I will try to share as many updates as I can in the Substack chat, but as I am trading it becomes tough to manage my own trade idea/plan and the trade itself to also signal/share updates on the days. This is why I want to build you up, mentor you, so you believe in the plan and how to trade it.
If you have questions you can find me on Discord via private message or stop by in the comments section below with your questions or even feedback!
All-in-all a good plan - it just took paytience and discipline. The opportunities were there and like most Monday’s even though we had news today, the action was whipsaw up and down and all over.
Dark Matter Trade Room - Chat Room on Substack
SPX/SPY/ES Intraday Overview (TL;DR)
JOLTS job openings comes out at 10am est. So try to stay paytient and wait it out until after the news. No reason to predict the path price will take us.
The bulls want to…
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