$SPX Analysis, Key Levels & Targets for 10.17.24
Tomorrow’s Implied move is between 5805 and 5880 and that is from options.
The 30 day average volatility is between 5785 and 5900 and that also lines up with the implied move on Fridays contract - and that’s the strike I’ll be looking to if we pop to sell bear call spreads.
To the upside we have ATH’s at 5871.41. I’m guessing that if
TSM earnings come in great and we see a move up there then ATH’s will be the Target on the day. But if not, then the 35EMA is just underneath us so look to that for clues. If we break it then support is where we saw the gap that we opened the week with (5815) and then underneath that the bottom of the implied move is at 58055790 on Fridays contract and that’s the strike I’m going to look to if we drop ( for bull put spreads)
Underneath all of that is the 30min 200MA and we are quite far away from that. It’s not in tomorrow’s trading range but could be a target next week if we see a down move from tomorrow’s earnings.
GL tomorrow, y’all
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.