Market Plan for October 23rd, 2023

Black Monday... or not

Good evening folks,

Hope you all enjoyed the weekend. Now it’s time to hop back in the casino.

Friday was the third consecutive day in a relentless sell-off, stripping more than 70 points off the index. We opened at 4270 and closed at 4224, less than four points from the day’s low.

We had a small gap up at the open to 4230, and the price is currently ranging around there. The “Black Monday” scenario doesn’t seem to be playing out for those who thought we’d crash tomorrow. Here’s my plan for tomorrow: