Market Plan for October 26th, 2023
New lows are made...
Good evening folks,
It was another grim day in the market as bulls were unable to hold their 70-point bounce and lost 4200 support. We fell down to 4184, a drop of over 50 points from the open.
This worked exactly as predicted from yesterday’s plan. Here’s what I said:
After we see bulls fail to break 4256 and are unable to break the 4269 high, it will be extra confirmation that 4269 was a liquidity grab and that we’re headed lower. I’d wait until we reach 4230 and not go short right away, targeting 4215 and 4201.
Here’s my projection with today’s results:
What’s next for $SPX? More weakness? Is it time to buy the dip? Here’s my plan: