$SPX ANALYSIS, KEY LEVELS & TARGETS for 11.11.24

All right. So the implied move over here today is between 5965 and 6030. 30 day average volatility, 5930 to 6060, fix is up right now almost 4% and stupid Willy is showing extreme overbought here 35 EMA is underneath the implied move and don’t forget, we returned to the 35 EMA all the time and we are due to hit that level so that is just underneath the implied move at 5965. There’s nothing else really in today’s trade range but let’s see where we close today. If we close towards the bottom then we’ll be retesting that election gap and remember that island bottom gaps tend to be a battle zone so the level around 5760 would be the next target.