Trade Plan for 10/17
Look. I can't Top the Last Few Days You Should NOT Subscribe. Surely Down Hill From Here
The weekly post should be reviewed prior to this. Link to The Week Ahead
I did a separate recap for the swings, which have been absolutely ridiculous lately. SWINGS
The re-launch of the course content is official and is now available to anyone. Course Announcement
For SPY 0.00%↑ today we had been monitoring ES 5846.5-49 as a bit of a major pivot this week.
From the weekly plan:
The Sunday night low was 5850 and we indeed proceeded to make a new all-time high on Monday. I called for caution as we took profits on the index swing at 5914 (5920 was major target. Monday’s high was 5918.5. Tuesday we pulled back to exactly 5850 again. The plan for today was to be long unless 5846.5-49 was offered from below. We were specifically looking for a hold or a look below and fail of 5853.25. This was shared ABOVE the paywall last night.
Today’s low? 5853.25
We have a ton of data tomorrow and bulls haven’t completely undone the short time frame damage from Tuesday, but sellers have still done no higher time frame damage (capping 5846.5-49 as UPside would be just a start and they haven’t even been able to do that).