Market Plan for September 27th, 2023

Is the bottom finally in?

Good evening folks,

This was a rough session. Hope you stayed above water. We opened near 4311, then hovered around there before quickly plummeting to 4300 and grinding down all the way to 4270. We’ve finally entered the 4200s. We had a bounce from 4270 at the end of the day, which is still ongoing.

This followed yesterday’s plan perfectly, where I said:

As long as we stay above 4311, we can reclaim 4340. Once 4340 is reclaimed, we can enter long, targeting 4360 and 4375

I later also tweeted this at 4270, where we finally reversed:

Is the bottom finally in for SPX? Is this just an oversold bounce? Let’s make tomorrow’s plan to find out: