Market Structure Overview:
* SPY is currently testing a Reversal Zone, trading within a descending wedge pattern.
* Support: 570-572 zone aligned with the lower trendline.
* Resistance: 578.28, followed by 595 if bullish momentum sustains.
Supply & Demand Zones:
* Demand Zone: 565-570 is showing some buyer interest.
* Reversal Zone: Price action is rejecting from the trendline, indicating a potential short-term bounce.
Order Blocks & Key Levels:
* 572.54 – 574.71 acting as a consolidation zone before a decisive move.
* If the price clears 578-580, momentum could push toward 595.
Indicator Analysis:
* MACD: Flat momentum but attempting a bullish crossover.
* Stochastic RSI: Bouncing from the lower region, indicating a possible reversal attempt.
Options Flow & GEX Analysis:
* Put Wall at 565 & 560: High negative gamma suggests strong put positioning.
* Call Resistance at 610-620: Major resistance where calls start building pressure.
* GEX Indicator: PUTs are at 110.1%—indicating downside hedging is still strong.
Scenarios to Watch:
1. Bullish Scenario: If SPY holds above 572-574, we could see a push toward 578 and then 595.
2. Bearish Scenario: A breakdown below 570 may trigger a flush toward 565, where the next strong put wall is positioned.
Actionable Trade Setup:
* Bullish Entry: Above 574.90 → Target: 578 / 595.
* Bearish Entry: Below 572.50 → Target: 570 / 565.
* Stop-Loss: ±2 points from entry.
Conclusion:
SPY is at a key decision point within a reversal zone, and price action near 574-578 will dictate the next leg. If bullish volume increases, we could see a run toward 595, but failure to hold 572 might result in further downside.
🛑 This analysis is for educational purposes only and does not constitute financial advice. Trade responsibly. 🚀
* SPY is currently testing a Reversal Zone, trading within a descending wedge pattern.
* Support: 570-572 zone aligned with the lower trendline.
* Resistance: 578.28, followed by 595 if bullish momentum sustains.
Supply & Demand Zones:
* Demand Zone: 565-570 is showing some buyer interest.
* Reversal Zone: Price action is rejecting from the trendline, indicating a potential short-term bounce.
Order Blocks & Key Levels:
* 572.54 – 574.71 acting as a consolidation zone before a decisive move.
* If the price clears 578-580, momentum could push toward 595.
Indicator Analysis:
* MACD: Flat momentum but attempting a bullish crossover.
* Stochastic RSI: Bouncing from the lower region, indicating a possible reversal attempt.
Options Flow & GEX Analysis:
* Put Wall at 565 & 560: High negative gamma suggests strong put positioning.
* Call Resistance at 610-620: Major resistance where calls start building pressure.
* GEX Indicator: PUTs are at 110.1%—indicating downside hedging is still strong.
Scenarios to Watch:
1. Bullish Scenario: If SPY holds above 572-574, we could see a push toward 578 and then 595.
2. Bearish Scenario: A breakdown below 570 may trigger a flush toward 565, where the next strong put wall is positioned.
Actionable Trade Setup:
* Bullish Entry: Above 574.90 → Target: 578 / 595.
* Bearish Entry: Below 572.50 → Target: 570 / 565.
* Stop-Loss: ±2 points from entry.
Conclusion:
SPY is at a key decision point within a reversal zone, and price action near 574-578 will dictate the next leg. If bullish volume increases, we could see a run toward 595, but failure to hold 572 might result in further downside.
🛑 This analysis is for educational purposes only and does not constitute financial advice. Trade responsibly. 🚀
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.