10/25 Trade Plan
SPY SPX
Traders,
We are two trading sessions in, and we are relatively unchanged from last week, SPY is up about $2. We had some big names report ER as soon as the market closed, at first glance I see that GOOGL is down big, and MSFT is up (a lot can change by open)
SPY
In my Sunday video/plan I mentioned that we would probably find short term support around 420-416. That naked weekly POC (not anymore) at 418.16 was bought up pretty quick. We ran into resistance right at Friday’s VAH 424.30 (which was also mentioned in the Sunday plan).
If we head lower under 420, I think we break that 418 level and head towards 416-414.
Under 420 I want to target 416.47 > 414.13.
Above 424.21 target 426.82 >428.42
In my weekly plan I said that the bulls need to push back up into last week’s value area, but that doesn’t start until 428.42.
419.61 watch this level, put an alert on it. If we fall under this, we lose the weekly open. Very important.
SPX (US500)
