Here’s a clear breakdown for SPY based on the 1-hour chart and Options GEX:
📈 Technical Analysis (TA):
* SPY recently broke structure bullishly (BOS) at ~$573, confirming bullish momentum.
* Immediate Support identified around $570–$573, marking a potential bullish reversal zone (green zone).
* Strong bearish reversal zone detected at $550–$560 (red zone), critical if the market pulls back significantly.
* MACD and Stoch RSI are indicating potential weakening momentum; watch closely for consolidation or slight retracement.
📊 GEX & Options Insights:
* Highest negative NETGEX / PUT support at $560 level. This area is crucial to watch for downside protection.
* Immediate strong CALL resistance at the $575–$580 area, acting as a ceiling for bullish momentum.
* IV Rank moderate at 23.2%, indicating balanced option premium pricing.
* PUT/CALL ratio balanced (PUT$ 50.7%), indicating mixed market sentiment.
💡 Trade Recommendations:
* Bullish Scenario: Confirm a hold above the green reversal zone ($573) and target CALL resistance near $580 initially, with a potential extension to $585–$590 if bullish momentum continues. Keep tight stops around $570.
* Bearish Scenario: Consider bearish positions if SPY breaks below $570 decisively, targeting the significant bearish reversal zone at $560.
* Neutral Strategy: Iron Condors or credit spreads between the $560–$580 range, benefiting from current balanced IV environment.
🛑 Risk Management:
Given current volatility at critical decision points, manage your risks carefully, and consider tighter stops and smaller position sizing.
Trade smart and safe!
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk before trading.
📈 Technical Analysis (TA):
* SPY recently broke structure bullishly (BOS) at ~$573, confirming bullish momentum.
* Immediate Support identified around $570–$573, marking a potential bullish reversal zone (green zone).
* Strong bearish reversal zone detected at $550–$560 (red zone), critical if the market pulls back significantly.
* MACD and Stoch RSI are indicating potential weakening momentum; watch closely for consolidation or slight retracement.
📊 GEX & Options Insights:
* Highest negative NETGEX / PUT support at $560 level. This area is crucial to watch for downside protection.
* Immediate strong CALL resistance at the $575–$580 area, acting as a ceiling for bullish momentum.
* IV Rank moderate at 23.2%, indicating balanced option premium pricing.
* PUT/CALL ratio balanced (PUT$ 50.7%), indicating mixed market sentiment.
💡 Trade Recommendations:
* Bullish Scenario: Confirm a hold above the green reversal zone ($573) and target CALL resistance near $580 initially, with a potential extension to $585–$590 if bullish momentum continues. Keep tight stops around $570.
* Bearish Scenario: Consider bearish positions if SPY breaks below $570 decisively, targeting the significant bearish reversal zone at $560.
* Neutral Strategy: Iron Condors or credit spreads between the $560–$580 range, benefiting from current balanced IV environment.
🛑 Risk Management:
Given current volatility at critical decision points, manage your risks carefully, and consider tighter stops and smaller position sizing.
Trade smart and safe!
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk before trading.
Disclaimer
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.
Disclaimer
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.