Update: Rolling out deeper analysis
Subrocs Levels | 2/5/25
Plan the trade, trade the plan.
SPY
Decision point rests at 600.50
Bullish: Over 603.70 with 605.50 and 608.70 targets.
Bearish: Below 598.70 with 595.50 and 593.70 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 near the decision point at 600.50, indicating potential bullish momentum.
A sustained move above 603.70 could lead to targets of 605.50 and 608.70.
Failure to maintain levels above 600.50 may result in a decline toward 598.70, with further downside targets at 595.50 and 593.70.
Trading Plan:
Long bias above 600.50, with confirmation over 603.70.
Short bias below 598.70, targeting 595.50 and 593.70.
SPX
Decision point rests at 6,023.70
Bullish: Over 6,056.50 with 6,075.30 and 6,108.10 targets.
Bearish: Below 6,004.90 with 5,972.10 and 5,953.30 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 near the decision point at 6,023.70, suggesting bullish potential.
A move above 6,056.50 could lead to targets of 6,075.30 and 6,108.10.
Dropping below 6,004.90 may shift momentum to the downside, targeting 5,972.10 and 5,953.30.
Trading Plan:
Long bias above 6,023.70, with confirmation over 6,056.50.
Short bias below 6,004.90, targeting 5,972.10 and 5,953.30.
QQQ
Decision point rests at 522.60
Bullish: Over 527.00 with 529.50 and 533.90 targets.
Bearish: Below 520.10 with 515.70 and 513.20 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 522.60, indicating bullish momentum.
A sustained move above 527.00 could lead to targets of 529.50 and 533.90.
Failure to hold above 522.60 may result in a decline toward 520.10, with further downside targets at 515.70 and 513.20.
Trading Plan:
Long bias above 522.60, with confirmation over 527.00.
Short bias below 520.10, targeting 515.70 and 513.20.
IWM
Decision point rests at 225.80
Bullish: Over 228.40 with 229.70 and 232.30 targets.
Bearish: Below 224.50 with 221.90 and 220.60 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 above the decision point at 225.80, suggesting bullish potential.
A move above 228.40 could lead to targets of 229.70 and 232.30.
Dropping below 224.50 may shift momentum to the downside, targeting 221.90 and 220.60.
Trading Plan:
Long bias above 225.80, with confirmation over 228.40.
Short bias below 224.50, targeting 221.90 and 220.60.
Final Notes
Market sentiment: Currently, the indices are trading near their respective decision points, indicating a neutral bias.
Key watch: Monitor the levels of 603.70 for SPY, 6,056.50 for SPX, 527.00 for QQQ, and 228.40 for IWM. A break above these levels could confirm further upside momentum.