Morning🪵: Gap Up Big Enough to have Bulls Blushing – Call HR!
SPY / SPX / QQQ Key Levels: Friday 10/4/24
“Yesterday was a drag”. Markets Delivering a Pump Just in Time for the Weekend.
NOTE: D = Daily. W = Weekly. FLIPs = key decision points for direction
Adding pivots / volume to the charts
Plan the trade, trade the plan.
Daily SPY | Bias ⚪
Decision point rests at $567.70
Looking for calls over $569.90 with $572.00 and $574.20 trims
Looking for puts below $565.60 with $563.40 and $561.30 trims
Swing ideas:
Price continues to hover around the Weekly FLIP at $571.30
A move above this level could test $575.00 (W ▲) and $578.40 (W T1+)
If price falls below $567.90, downside targets are $564.20 (W T1-) and $560.80 (W T2-)
Daily SPX | Bias ⚪
Decision point rests at $5,698.70
Looking for calls over $5,720.00 with $5,740.10 and $5,761.40 trims
Looking for puts below $5,678.60 with $5,657.30 and $5,637.20 trims
Swing ideas:
Price is still close to the Weekly FLIP at $5,734.80
Upside targets remain at $5,770.60 (W ▲) and $5,803.20 (W T1+)
If the price declines, look for support at $5,702.20 (W ▼) and $5,666.40 (W T1-)
Daily QQQ | Bias ⚪
Decision point rests at $481.70
Looking for calls over $484.40 with $487.30 and $490.00 trims
Looking for puts below $478.90 with $476.10 and $473.30 trims
Swing ideas:
Price is near the Weekly FLIP at $486.90.
A move above this level could target $493.60 (W ▲) and $500.40 (W T1+)
If price breaks below $480.10, potential downside targets are $473.40 (W T1-) and $466.60 (W T2-)
