Merry Christmas Special Deal SPY SPX ES Actionable Levels

$SPX defends right where it had to and runs like a wild man. Where does $SPY head Thursday? Special 24 hour Christmas Special.

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SPY Options
December 24, 2024

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In yesterday’s letter, we wrote:

❝

For tomorrow, I am closely watching the key SPX levels of 5967, 5987, and 5915.

If we dip and defend at 5967, or even 5956/5945, these may be areas to get long for a move to the 5987 area. Take this out, and the breakout long is in play, targeting 5999 and 6013 first, followed by 6031, 6049....”

This is what happened. We got the overnight dip to precisely 5967 (6030 on ES) defended and then rallied all the way to a high of 6040, just above the 6031 level and 9 points south of the 6049.

See how well the levels work?

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