SPY Daily Commentary | S/R
Updated
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Happy Tuesday!
Yesterday seemed to be a double shake out. Bull trap falling knife all day until the bear trap into the last hour. Everything is going to plan for a pullback to retest the breakdown area though. Looking for the big number test of 332.75. May or may not happen today. But it's a thought. Besides that, we still have the gap to fill during normal hours.
Next gap to fill is 327.73-327.13
Just riding the wave back up would be abnormal behavior. Bears would normally get stopped out at a higher low before giving the keys back to the bulls to drive. It would be reasonable, if bears were serious, to try and retest some numbers from yesterday.
Intraday will give more details regarding todays move.
Graveyard Shift / Morning Crew
Graveyard Shift: filled the gap that i was looking for all day -.-
Morning Crew: Gapping up, bullish. shy of the breakdown low. this is bearish. getting mixed signals. would be wise to see market direction first.
Futures Crew (/ES)
working a retest of the breakdown at 3300. expecting a rejection first. bears will want to keep things under 3250 to try and rework a test of 3220
Two big numbers today:
For Bulls: 3305
For Bears: 3250
Resistance levels
(Pre-Market) 328.52
(See Shared Chart)
Support levels
(Pre-Market) 326.77
(See Shared Chart)
Gaps
356.37 - 357.48
337.7-338.52
331-330.06
327.73-326.63
Extras
On the live chart, I typically run 5's and 15's. Because these are more intraday important, I'll be updating them as they come up. Be sure to check the live is you want more immediate results.
Re-evaluating the chart layout and have decided for simplicity and cleanliness. Important lines are in this presidence:
Black Solid Bold (Weekly S/R)
Gold Solid (Daily S/R)
Dashed Black (Hourly S/R)
Blue Line (Target S/R)
Pink Line (Gap Target)
Shared Chart
tradingview.com/chart/oOetWWMH/
Weekly Projection
None this week.
If this helps you, like the chart and feel free to follow me. I freely offer intraday SPY commentary. Thanks for taking the time to read. All of this information is my interpretation and shouldn't be taken as trading advice. Good luck out there traders!
Like the idea and follow me for intraday SPY commentary!
Happy Tuesday!
Yesterday seemed to be a double shake out. Bull trap falling knife all day until the bear trap into the last hour. Everything is going to plan for a pullback to retest the breakdown area though. Looking for the big number test of 332.75. May or may not happen today. But it's a thought. Besides that, we still have the gap to fill during normal hours.
Next gap to fill is 327.73-327.13
Just riding the wave back up would be abnormal behavior. Bears would normally get stopped out at a higher low before giving the keys back to the bulls to drive. It would be reasonable, if bears were serious, to try and retest some numbers from yesterday.
Intraday will give more details regarding todays move.
Graveyard Shift / Morning Crew
Graveyard Shift: filled the gap that i was looking for all day -.-
Morning Crew: Gapping up, bullish. shy of the breakdown low. this is bearish. getting mixed signals. would be wise to see market direction first.
Futures Crew (/ES)
working a retest of the breakdown at 3300. expecting a rejection first. bears will want to keep things under 3250 to try and rework a test of 3220
Two big numbers today:
For Bulls: 3305
For Bears: 3250
Resistance levels
(Pre-Market) 328.52
(See Shared Chart)
Support levels
(Pre-Market) 326.77
(See Shared Chart)
Gaps
356.37 - 357.48
337.7-338.52
331-330.06
327.73-326.63
Extras
On the live chart, I typically run 5's and 15's. Because these are more intraday important, I'll be updating them as they come up. Be sure to check the live is you want more immediate results.
Re-evaluating the chart layout and have decided for simplicity and cleanliness. Important lines are in this presidence:
Black Solid Bold (Weekly S/R)
Gold Solid (Daily S/R)
Dashed Black (Hourly S/R)
Blue Line (Target S/R)
Pink Line (Gap Target)
Shared Chart
tradingview.com/chart/oOetWWMH/
Weekly Projection
None this week.
If this helps you, like the chart and feel free to follow me. I freely offer intraday SPY commentary. Thanks for taking the time to read. All of this information is my interpretation and shouldn't be taken as trading advice. Good luck out there traders!
Note
opening above the resistance. bulls are trying to demonstrate some buying power. keeping an eye on the pink line and the gap below needing to be filled
Note
330 is an important target for the bulls and bears.there should be a resistance on the first touch.
Note
bears working the gap. buyers should be wait at the golden line first, and if that doesnt hold, the weekly S/R
if bulls lose the weekly S/R, bears will take the ball and drive down range
Note
bulls trouble starts at the pullback from this area.theyll want to work back up to close above the pre high rather quickly
if they get stopped out before 328.2 then bears get another turn to drive down.
Note
bulls worked back up to 329ish.gap is cleaned up, which is nice.
now the target for bulls is 330 as mentioned.
theyll want to hold 329 first, preferably on the 15, then hourly.
gonna take not the 325.75 is going to need a retest sometime.
dont know when, but its got the markings of an important breakout spot.
Note
bulls took too long. bears gonna try to hit 325.75 as a target.Note
checking out the 15bulls just set a lower high.
bears will need a lower low to breakdown a little
328.9ish is where bulls need to get above if/until something happens.
VIX is down. but the p/c is a little high @ 2.1 for SPX
also, volume is almost non existent at the moment.
suspicious, until the bulls can start working nearer to 330
Note
tightening range precedes breakoutsfair to be in the waiting area until someone claims the ball
328.8 for bulls
326.5 for bears
Note
bulls trying to cap 329bears coming back to test it
Note
bulls heldup and away to 332
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