📓 Playbook : SPY/SPX/QQQ/IWM
Key Levels Tuesday 02.04.25
Update: Rolling out deeper analysis
Subrocs Levels | 2/4/25
Plan the trade, trade the plan.
SPY
Decision point rests at 596.20
• Bullish: Over 601.90 with 606.00 and 611.70 targets.
• Bearish: Below 592.10 with 586.40 and 582.30 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 holding above the decision point at 596.20 but remains below key resistance at 601.90.
• Bulls need to push above 601.90 to confirm strength toward 606.00.
• If SPY breaks back below 596.20, sellers could take control, targeting 592.10.
Trading Plan:
• Long bias above 596.20, confirmation over 601.90.
• Short bias below 592.10, with 586.40 as the next downside target.
SPX
Decision point rests at 5,980.20
• Bullish: Over 6,036.50 with 6,078.40 and 6,134.70 targets.
• Bearish: Below 5,938.30 with 5,882.00 and 5,840.10 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:
• If SPX is trading above 5,980.20, bulls need to reclaim 6,036.50 to gain momentum.
• If below 5,938.30, expect downside continuation to 5,882.00.
Trading Plan:
• Long bias if holding above 5,980.20, with confirmation over 6,036.50.
• Short bias below 5,938.30, with 5,882.00 as the next target.
QQQ
Decision point rests at 516.70
• Bullish: Over 522.40 with 526.50 and 532.10 targets.
• Bearish: Below 512.60 with 506.90 and 502.80 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 holding above the decision point of 516.70 but has yet to reclaim 522.40, which is needed for further upside.
• If price fails and breaks back below 516.70, sellers could target 512.60.
Trading Plan:
• Long bias above 516.70, confirmation comes over 522.40.
• Short bias below 512.60, with 506.90 as the next downside target.
IWM
Decision point rests at 223.40
• Bullish: Over 226.10 with 228.30 and 231.00 targets.
• Bearish: Below 221.30 with 218.50 and 216.40 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 hovering above its decision point at 223.40 but has yet to push past 226.10.
• If IWM holds above 223.40, bulls could attempt a move toward 226.10.
• A break below 223.40 shifts momentum to the downside, targeting 221.30.
Trading Plan:
• Long bias above 223.40, with confirmation over 226.10.
• Short bias below 221.30, with 218.50 as the next target.
Final Notes
• Market sentiment: Slight bullish edge, as SPY, QQQ, and IWM are trading above their decision points but have yet to reclaim key breakout levels.
• Key watch: SPY 601.90, QQQ 522.40, and IWM 226.10—clearing these levels could confirm further upside.
• Risk management: If price breaks below decision points, shift to short bias and target next supports.