Morning🪵: CPI 🥵 — The Fed's Rate Strategy is a Screen Door on a Submarine.
SPY / SPX / QQQ Key Levels: Thursday 10/10/24
Turns out the only thing falling this month is the Fed’s credibility 😂
NOTE: D = Daily. W = Weekly.
FLIPs = key decision points for direction
Plan the trade, trade the plan.
SPY
Decision point rests at $576.60
Looking for calls over $578.20 with $579.30 and $580.90 trims
Looking for puts below $575.50 with $573.90 and $572.80 trims
Swing ideas:
Price remains above the Weekly FLIP at $570.90.
A move above $576.50 (W â–²) could lead to $580.00 (W T1+).
If price falls below $567.40 (W â–¼), watch for support at $561.80 (W T1-).
SPX
Decision point rests at $5,786.70
Looking for calls over $5,802.30 with $5,812.40 and $5,827.90 trims
Looking for puts below $5,776.60 with $5,761.00 and $5,750.90 trims
Swing ideas:
SPX remains above the Weekly FLIP at $5,730.10.
A move above $5,786.20 (W â–²) may push towards $5,821.20 (W T1+).
If it falls below $5,695.10 (W â–¼), support targets are $5,639.00 (W T1-).
QQQ
Decision point rests at $492.50
Looking for calls over $494.30 with $495.50 and $497.30 trims
Looking for puts below $491.30 with $489.50 and $488.30 trims
Swing ideas:
Price is above the Weekly FLIP at $484.40.
If price moves above $491.40 (W â–²), it could target $495.40 (W T1+).
A break below $480.40 (W â–¼) could aim for $473.40 (W T1-).
