Great letter and work here, I appreciate you Steve. If it isn't too much trouble, would you mind adding the demand zone and supply zone to the ES Levels daily sticky post? This information really helps me with considering where I will trade.

That sounds reasonable to me. Ultimately it is up to everyone individually what they decide to do based on their plan. If you are following a particular system "exactly as it is" for example, then you would be entering when it enters, and closing when it closes. Take the instruction, don't look at it again until receiving another instruction is how I view it. 

I've shared with my grandson how to do it, so when he has a trade he just follows it "as is". Papa, what are the systems going to do today? 

For me personally, there are times when I will alter the strategy, though it is rare. Since I had some good long trades recently against my short system trades I was holding, I sold out of everything yesterday as I don't want to trade the FOMC meeting today. I just preferred to take profits on both sides when it was most favorable during the day. My long stuff sold in premarket near resistance 3,920s. Short stuff was after hours on that good rip. Just how it worked out when opportunity presented itself. My trading account was at a new high for the year again. I trade more actively on occasion. There are times when I have other things I'm focusing on and the systems are ideal because all I need to do is just follow them and go back to life, my other priorities, check things near the close, and done. 

A few things I've learned, #1 Less is more. Pick a strategy and specialize in it. #2 I don't always have to be in a trade. 

I think the systems are a great way to help with the confidence of trading (Fishing with others in the same place) while providing an opportunity to develop your own style over time. 

SPX Sold my short after hours, had a good rip that got near the lows of today's market prices. I don't know where things go now, so I'm sitting in cash in my trading strategy account until I get another favorable risk/reward. Another new high in my trading account for the year. 

And now it is time for some "Wise Trader comments". I often screenshot and/or take notes on the things that are worth reading again and again. These are the types of comments/reminders that never go out of style. 

This screenshot is from Steve, see attached. I have more than a few of these and will share some on occasion. 

Np, I may have to change my name to Gapmaster FV   

One is Direxion and the other is Proshares. Different fund companies, though the same strategy.

SPX gaps below are still down at 3,807 and 3,797. And of course the 3,583 if things really got going. All from this recent rally. 

The 9 day at 3,815 (coincides with the 3,820 level) and a pivot point showing up at 3,756 on this view coincides with the 3,755 level: https://schrts.co/CUhGXmUK

gap filled  love this market, easy money

3,871.98 is the first gap, yesterday's close. 

sounds like a lower risk short setting up at some point, 70s long term rsi now testing previous highs

Here's the gap fill that I was looking for on this trade and more so I'll take profits near the highs in premarket here 3,920s area resistance. I like when I wake up and the move is already made, book profits, and move on. 

Fill a gap with a gap, if it holds up in the cash market, then there will now be a new gap below at 3,871.98 from yesterday's close. Three more below that. Increased risk with those gaps eventually, just no idea on timing. 

JPM's Kolanovic sees rate hike cycle ending in early 2023. 

He's saying .75 this week, .50 in December, .25 early next year, and then pause. 

Had to take the detour though almost there, gap fill target, Friday's close is at 3,901. 

I'm not big on the sold narratives or reasons for why things did this or that on a certain day either. Whoever is running the market show, algos, I call them "Oz" ultimately knows where it is going and takes it there, I just buy or sell based on prices. A lot less headache. 

I don't have any emotional attachment and that enables me to operate day to day easily in accordance with my plan. I also don't watch all the ticks, I've found it to not be good for my health or outlook on life. Checking how things look on the close is often enough for me to see if any adjustments need to be made or not. To each is own. I've learned to be me because that is the only person I can be. 

SPX took a 1/3 position near the premarket lows for a faster trade via SPXL. A lot of times smaller weakness can be an opportunity and the gap will fill from Friday's close. If I'm wrong then I'll just hold this portion against my 2 entries of short position as a hedge.

It will be interesting to see what happens this week. Here are the gaps (round numbers):

Downside gaps: 3,807, 3,797, and 3,583

Upside gaps (first two): 4,110 and 4,228

Stocks still have room to run before earnings reality hits - Morgan Stanley:

https://seekingalpha.com/news/3897665-stocks-still-have-room-to-run-before-earnings-reality-hits

Contextually, their target of 4,000-4,150 is in alignment with the .618 fib at 4,000 & change, the 4,110 gap, and possibly into that larger supply zone over time. Notable that they have been one of the most bearish firms over the years of the more known ones. 

How To Add An I-Bond Beneficiary (Step By Step Tutorial) | I Bond BENEFICIARY vs JOINT OWNER

https://www.youtube.com/watch?v=510Y0D5hoVo&t=529s

Anyone here consider themselves an experienced web3 user? I did an hour interview as an inexperienced user. If you are experienced, they are paying $300 for a bit longer than an hour interview on zoom. I have the link for the survey to apply if anyone would like it. Takes a few minutes. I have had a great time with some of these this year. 

SPXL took profits from 61s to 66s, good enough for today. Pre and post market can provide some real gifts. 

SPX If/when things reverse at some point after this rally wave completes, my comment on gaps: 

Low today was 3,808.26, yesterday's close 3,807.30. There is another small one on the cash at 3,797.31 that didn't fill a bit back either. Happy to trade this rally, though I think they come back for these too at some point. 

Obviously below that is 3,583.07 which isn't being looked at for now, though this sets up an even greater risk/reward at some point for a short, particularly as we go higher here. Bulls have the ball for now and we just broke back above the 50 day ma. 

If things can somehow keep going into year end, 4,110.41 is the above gap to look at first on the upside.