📓 Playbook : SPY/SPX/QQQ/IWM
Key Levels Thursday 02.06.25
Subrocs Levels | 2/6/25
Plan the trade, trade the plan.
SPY
Decision point rests at 602.40
Bullish: Over 606.20 with 608.20 and 612.00 targets.
Bearish: Below 600.40 with 596.60 and 594.60 targets.
Weekly levels: 609.60 is resistance; 617.40 and 624.90 are higher resistance targets. 602.10 is support, with further downside at 594.20 and 586.80.
Auction Analysis:
SPY is currently trading above the decision point at 602.40, indicating a neutral bias at open, given the gap.
A sustained move above 606.20 could lead to targets of 608.20 and 612.00.
Failure to maintain levels above 602.40 may result in a decline toward 600.40, with further downside targets at 596.60 and 594.60.
Trading Plan:
Long bias above 606.20, targeting 608.20 and 612.00.
Short bias below 600.40, targeting 596.60 and 594.60.
SPX
Decision point rests at 6,043.80
Bullish: Over 6,080.50 with 6,099.60 and 6,136.30 targets.
Bearish: Below 6,024.70 with 5,988.00 and 5,968.90 targets.
Weekly levels: 6,120.10 is resistance; 6,199.50 and 6,278.10 are higher resistance targets. 6,041.50 is support, with further downside at 5,962.10 and 5,883.50.
Auction Analysis:
SPX is trading above the decision point at 6,043.80, suggesting a neutral bias given the gap.
A move above 6,080.50 could lead to targets of 6,099.60 and 6,136.30.
Dropping below 6,024.70 may shift momentum to the downside, targeting 5,988.00 and 5,968.90.
Trading Plan:
Long bias above 6,080.50, targeting 6,099.60 and 6,136.30.
Short bias below 6,024.70, targeting 5,988.00 and 5,968.90.
QQQ
Decision point rests at 524.80
Bullish: Over 529.00 with 531.20 and 535.40 targets.
Bearish: Below 522.60 with 518.40 and 516.20 targets.
Weekly levels: 532.50 is resistance; 542.70 and 553.80 are higher resistance targets. 521.30 is support, with further downside at 511.10 and 499.90.
Auction Analysis:
QQQ is trading near the decision point at 524.80, indicating a neutral bias.
A sustained move above 529.00 could lead to targets of 531.20 and 535.40.
Failure to hold above 524.80 may result in a decline toward 522.60, with further downside targets at 518.40 and 516.20.
Trading Plan:
Long bias above 529.00, targeting 531.20 and 535.40.
Short bias below 522.60, targeting 518.40 and 516.20.
IWM
Decision point rests at 228.60
Bullish: Over 230.30 with 231.20 and 232.90 targets.
Bearish: Below 227.70 with 226.00 and 225.10 targets.
Weekly levels: 229.60 is resistance; 232.80 and 235.40 are higher resistance targets. 227.10 is support, with further downside at 223.90 and 221.40.
Auction Analysis:
IWM is trading near the decision point at 228.60, suggesting a neutral bias.
A move above 230.30 could lead to targets of 231.20 and 232.90.
Dropping below 227.70 may shift momentum to the downside, targeting 226.00 and 225.10.
Trading Plan:
Long bias above 230.30, targeting 231.20 and 232.90.
Short bias below 227.70, targeting 226.00 and 225.10.
Final Notes
Market sentiment: The indices are trading near their respective decision points, indicating a neutral bias at open.
Key watch: Monitor the levels of 606.20 for SPY, 6,080.50 for SPX, 529.00 for QQQ, and 230.30 for IWM. A break above these levels could confirm further upside momentum.
Risk management: If prices fall below the decision points, consider shifting to a short bias and targeting the next support levels.