SPX ES SPY Setups for 11/27

Specific and Actionable as Always

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Though last week was low volume/low participation in general, we do find ourselves with a number of structurally relevant areas into this week. We may have seen our first sign of buyer exhaustion, but we will be cautious in interpreting this because of last week’s low participation. Every profile trader will be monitoring Wednesday’s excess high of ES 4580.5. It is worth noting that this occurred at the SPX 8/1/2023 low with a remaining SPX price gap at 4576.72 which correlates to the ES RTH gap at 4591. We also formed a bit of a double distribution up week with a very key and obvious LVN pivot to be used early in the week. I will also be watching NQ/QQQ and NVDA closely this week, possibly with posts on both later today.