October 4, 2023 SPX, SPY, ES Trade Plan
Market Review - Last Session
Good evening/day/morning fellow traders. What a wonderful day. I will quickly touchbase on today’s session. We opened at 4273 and hit a high of 4281 - well within 4 pts already in our bearish trade idea.
While I didn’t take this trade I mentioned in our Chat Room on Substack that we need to be paytient and wait for the 10am est JOLTS Job Openings numbers. Boy was that the right call and the moment those numbers came in higher than expected I entered puts at around 4270 and rode that down first to 4250 where I took profit.
When it looked like we were going to break down further I entered into more puts and rode it down to 4220 where at that point and time I was happy to walk away very green on the PnL.
So congrats to those who put in the time and effort in sticking to the plan and the conviction behind it. Everyone should of ate and if you didn’t let me help you unpack what went wrong and how you traded the day.
All-in-all a good plan with a very timely update in the chat room where it just took paytience and discipline.
Dark Matter Trade Room - Chat Room on Substack
SPX/SPY/ES Intraday Overview (TL;DR)
Pre-market has news catalyst with ADP jobs data and then at 10am est ISM Services PMI. Couple of FED Speakers will also be speaking starting at 10:25am est.
If you are still a bear you want to see…
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