Market Plan for September 28th, 2023

The bulls are back...

Good evening folks,

This was an extraordinary session full of opportunities. You rarely get days with this much clean two-sided action. We opened at 4300 (which I sold for a +30 point gain from 4270 overnight) and quickly dropped back down to 4270. We had a small bounce there, before dropping all the way down to 4244.

We then had a sudden intraday reversal, running all the way up to 4296 before dropping back down to 4270. This worked beautifully with the supply/demand zones. I was able to capture a large piece of every move today. I’m currently long from 4272.

In yesterday’s plan, I explained that 4300 was the key pivot level, and below it we’d drop lower:

If we fail to break 4300, we will move down to 4270. If we manage to crack 4270, we’re headed for 4256 next.

Given the intensity of this bounce, could this finally be the bottom? Will we end tomorrow green? Let’s find out in tomorrow’s plan: