📓 Playbook : SPY/SPX/QQQ + Big Picture
Key Levels Monday 10.28.24
“Failure is not fatal, but failure to change might be”
John Wooden 🏀
Plan the trade, trade the plan.
🎃 Big picture as we close out October
Bullish if price holds above monthly major support at 579.10, with targets at 587.70, 590.70, and 595.20.
Bearish if price drops below weekly support at 580.10, with downside targets at 575.50, 572.50, and potentially 572.10.
The monthly and weekly levels are aligning around the 579-583 zone, indicating a critical decision point. Holding above this level could lead to bullish continuation, while dropping below suggests further downside into 572 territory.
SPY
Decision point rests at 579.20
Bullish over 580.30 with 581.70 and 582.80 targets.
584.40 is also a key resistance level.
Bearish below 577.80 with 576.70 and 575.30 targets.
574.00 is an important support level.
Swing ideas:
Decision point rests at 579.40
Bullish over 584.40 with 589.80 and 594.80 targets.
Bearish below 574.00 with 569.00 and 563.50 targets.
SPX
Decision point rests at 5810.50
Bullish over 5821.00 with 5834.00 and 5844.50 targets.
Bearish below 5797.60 with 5787.00 and 5774.10 targets.
5812.50 is a significant support level.
Swing ideas:
Decision point rests at 5812.50
Bullish over 5862.60 with 5917.00 and 5967.10 targets.
Bearish below 5758.10 with 5708.00 and 5653.60 targets.
QQQ
Decision point rests at 495.60
Bullish over 496.80 with 498.40 and 499.60 targets.
502.20 is a critical resistance level.
Bearish below 494.00 with 492.80 and 491.20 targets.
Swing ideas:
Decision point rests at 493.60
Bullish over 502.20 with 508.80 and 517.40 targets.
Bearish below 486.90 with 478.40 and 471.70 targets.