TODAY SPY HELD BETTER THAN NASDAQ.
Spy is on an uptrend with ascending triangle but can be a possibility of rejection on resistance (398). If SPY gets rejection on resistance, spy sees 380 level again as main support for now.
Two scenarios for tomorrow's game plan:
1st- If rejection on resistance and uptrend breaks, the spy will mostly fall back to the 380 area support level. Puts June 3 strike 390
2nd- If spy Breakthru resistance, then the possibility of 409. Call June 3 strike 405
Spy is on an uptrend with ascending triangle but can be a possibility of rejection on resistance (398). If SPY gets rejection on resistance, spy sees 380 level again as main support for now.
Two scenarios for tomorrow's game plan:
1st- If rejection on resistance and uptrend breaks, the spy will mostly fall back to the 380 area support level. Puts June 3 strike 390
2nd- If spy Breakthru resistance, then the possibility of 409. Call June 3 strike 405
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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.