SPX ES SPY Plan for 10/30
Intraday on Friday after we failed our 4176.25 level and then traded back below 4161.25 I suggested that we may see a double distribution down day to our 4122 target. This double distribution developed as we traded down through Thursday’s lows. How price interacts at this area early in the week will help us to assess relative strength or weakness in the index. Below is some discussion of that and specific trade setups that I will look for tomorrow.