Morning🪵: Just Sitting Here Waiting for Prime Day With Everybody Else.
SPY / SPX / QQQ Key Levels: Monday 10/7/24
I’m excited for the Bezos’ to buy another yacht with my money. Let’s gooooo!
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 $572.00
Looking for calls over $574.40 with $575.80 and $578.20 trims
Looking for puts below $570.60 with $568.20 and $566.90 trims
Swing ideas:
Price is near the Weekly FLIP at $570.90, a critical pivot.
If price rises above $570.90, expect potential moves toward $576.50 (W ▲) and $580.00 (W T1+).
If price moves below $567.40, targets include $561.80 (W T1-) and $558.30 (W T2-).
Daily SPX | Bias ⚪
Decision point rests at $5,740.50
Looking for calls over $5,763.70 with $5,776.40 and $5,799.70 trims
Looking for puts below $5,727.80 with $5,704.60 and $5,691.90 trims
Swing ideas:
Price is close to the Weekly FLIP at $5,730.10.
A move above this level could test $5,786.20 (W ▲) and $5,821.20 (W T1+).
A drop below $5,695.10 may target $5,639.00 (W T1-) and $5,603.90 (W T2-).
Daily QQQ | Bias ⚪
Decision point rests at $486.50
Looking for calls over $489.00 with $490.40 and $492.80 trims
Looking for puts below $485.10 with $482.60 and $481.30 trims
Swing ideas:
Price remains near the Weekly FLIP at $484.40.
An upward move could target $491.40 (W ▲) and $495.40 (W T1+).
A move below $480.40 may aim for $473.40 (W T1-) and $469.40 (W T2-).