Plan the trade. Trade the plan.
Major levels for the week 10/7 - 10/11:
SPY Snapshot:
• Previous Close: 572.98
• Today’s Close: 567.80
• Percentage Change: -0.90%
SPY opened below the previous close and continued to decline throughout the day, closing at 567.81, a 0.90% decrease. The drop brought it closer to the key Weekly ▼ level at 567.40, indicating that price has moved into the lower range of the weekly and monthly support levels.
Watching this week:
• Resistance: $570.90, $576.50, $580.00
• Support: $567.40 , $561.80
SPX Snapshot:
• Previous Close: 5,751.06
• Today’s Close: 5,695.93
• Percentage Change: -0.96%
SPX fell nearly 1% from its previous close, closing just below the critical support level of 5,695.10 (W ▼). This decline shows increasing bearish pressure as SPX moves through key weekly and monthly support levels.
Watching this week:
• Resistance: 5,730.10, 5,786.20, 5,821.20
• Support: 5,695.10, 5,639.00
QQQ Snapshot:
• Previous Close: 487.32
• Today’s Close: 482.10
• Percentage Change: -1.07%
QQQ saw the steepest decline among the three, dropping over 1% and closing at 482.10. The close is near the W ▼ level at 480.40, which is a critical support zone. This suggests that any further downward movement may test lower weekly targets.
Watching this week:
• Resistance: $484.40, $491.40, $495.40
• Support: $480.40, $473.40
