11/07 Trade Plan
SPY SPX
SPY
Not much has changed from my plan yesterday as SPY ended the daily session inside Friday’s range. So, this post is going to be pretty short. Basically, I am watching 433. I want to see what we do there, IF we get there. If we break yesterday’s low of 433.68, I expect a test of Friday’s lows.
If 433 holds, I think we target 436. If bulls can get above 436, I want to target 438.43, then 440-441.
Under 433 the next big area is 430.92.
Keep in mind that this 433-430 is support right now. If it holds as support, we go higher. If it turns into resistance, we go lower. 428.83 is last week’s VAH, it is critical that the bulls hold this level.
