🧊So here’s what I’m seeing on SPY after reviewing the daily, 1H, and options GEX flow. I like to keep it real — not overhyped, just what I think might actually matter if you're trading this week.
📉 Technical Setup (Daily & 1H View)
* We’ve been in this steady grind higher, breaking out of the downward channel.
* Price is stalling a bit near 558–563 zone — that’s a tough area, and it makes sense since it lines up with prior resistance.
* MACD on the daily is still bullish but starting to flatten, and the Stoch RSI looks like it wants to cool off from overbought.
* On the hourly, momentum is clearly slowing down — we’re seeing lower highs and weakening MACD. If 558 breaks, I’d expect some quick downside.
🧠 GEX (Gamma Exposure) Breakdown
* The Highest Negative GEX is parked at 560, which is huge. That’s where market makers flip from hedging to hunting.
* There’s a fat PUT wall at 560, and we’ve been dancing around it. So if bulls can’t hold this line, things could unwind fast.
* On the upside, CALL resistance is stacked at 562–563, and we just tapped into it.
* IV is sitting at 30.6 with IVx avg 25 → market’s a bit juiced, probably pricing in some chop or catalyst ahead.
🎯 Trade Scenarios I’m Watching
🐻 Bearish Setup (if price rejects 563 again):
* Entry: 561–562 rejection
* Target: 555–556 zone
* Stop: Close above 563.50
* This plays off the GEX flip and rejection at CALL resistance.
🐂 Bullish Setup (only if we reclaim 563 with volume):
* Entry: Break and hold above 563
* Target: 567, maybe even 572 if gamma squeezes kick in
* Stop: Drop back below 561
🧨 Options Play Ideas
* Looking short-dated? Consider a PUT debit spread like 562/557 for this week if momentum confirms.
* For bounce lovers: CALL debit 563/567 spread, but only if we break 563 and hold above.
* With IV a bit hot, spreads are safer than naked options to control risk.
Final Thoughts: SPY’s sitting at a pivot. It’s either digesting gains before another push… or we’re about to see some hedging volatility flood in. I’m personally watching how it handles 560–563 range — everything hinges on that for me. No need to rush in. Let the chart tell you.
This is not financial advice. Just me sharing how I see the market and how I’d trade it based on what the data and charts are saying.
📉 Technical Setup (Daily & 1H View)
* We’ve been in this steady grind higher, breaking out of the downward channel.
* Price is stalling a bit near 558–563 zone — that’s a tough area, and it makes sense since it lines up with prior resistance.
* MACD on the daily is still bullish but starting to flatten, and the Stoch RSI looks like it wants to cool off from overbought.
* On the hourly, momentum is clearly slowing down — we’re seeing lower highs and weakening MACD. If 558 breaks, I’d expect some quick downside.
🧠 GEX (Gamma Exposure) Breakdown
* The Highest Negative GEX is parked at 560, which is huge. That’s where market makers flip from hedging to hunting.
* There’s a fat PUT wall at 560, and we’ve been dancing around it. So if bulls can’t hold this line, things could unwind fast.
* On the upside, CALL resistance is stacked at 562–563, and we just tapped into it.
* IV is sitting at 30.6 with IVx avg 25 → market’s a bit juiced, probably pricing in some chop or catalyst ahead.
🎯 Trade Scenarios I’m Watching
🐻 Bearish Setup (if price rejects 563 again):
* Entry: 561–562 rejection
* Target: 555–556 zone
* Stop: Close above 563.50
* This plays off the GEX flip and rejection at CALL resistance.
🐂 Bullish Setup (only if we reclaim 563 with volume):
* Entry: Break and hold above 563
* Target: 567, maybe even 572 if gamma squeezes kick in
* Stop: Drop back below 561
🧨 Options Play Ideas
* Looking short-dated? Consider a PUT debit spread like 562/557 for this week if momentum confirms.
* For bounce lovers: CALL debit 563/567 spread, but only if we break 563 and hold above.
* With IV a bit hot, spreads are safer than naked options to control risk.
Final Thoughts: SPY’s sitting at a pivot. It’s either digesting gains before another push… or we’re about to see some hedging volatility flood in. I’m personally watching how it handles 560–563 range — everything hinges on that for me. No need to rush in. Let the chart tell you.
This is not financial advice. Just me sharing how I see the market and how I’d trade it based on what the data and charts are saying.
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.