Market Plan for September 19th, 2023

The market digests the crash

Good evening folks,

After a 50-point drop on Friday, we had a slow start to the week. We dropped to 4443, nearly tagging our 4441 level, before rallying to 4470. At 4470, we began stalling and ended the session with a swift drop to the 4450s.

I went long near the bottom at 4441.

This has left us with an interesting situation, where neither side has enough power to break out. How do we trade this? Let’s make tomorrow’s plan: