#SPYSPY is currently doing a retracement
If we hold above 595 this week we'll start seeing a bounce and still touch that long term goal of $617 area
But if we dont hold that level of 595 this week.
We can keep dropping all the way to 580 area
SPY trade ideas
SPY Bearish Breakout! Sell!
Hello,Traders!
SPY was trading in an
Uptrend but then the index
Made a bearish breakout
From the bearish wedge
Pattern and we are locally
Bearish biased and we will
Be expecting a local
Bearish move down
Sell!
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Check out other forecasts below too!
$SPY🚨 AMEX:SPY Outlook
We are overextended here and failed to surpass major OB(s). The next leg down will be a wild ride, as we may fall below $590 heading into March.
The great financial switch to the Digital Financial System is upon us.
$SPY Bull & Bear Options to End FebruaryThe AMEX:SPY is at a crossroads as we close out February. We’ve had hotter-than expected inflation, talks of tariffs, promises of deregulation, China’s stimulus rollout, and Wall Street’s continuing “soft landing” narrative. This is a time to be cautious. Friday’s PCE inflation data could sway the Fed’s March rate decision. Midterm elections and tax cut debates are heating up. Regardless of the noise, the levels show us the way.
We are trading in the range of $591 to $600. For this week, we will be using support over $597 as the entry for calls and a rejection under $600 for puts.
Here are this week’s AMEX:SPY options:
(15-30 minute candles for confirmation and stop-loss)
📜 $595 PUT 3/10 or $591 3/11 (Cheaper, but higher risk)
Entry: Retest & rejection under $600
Target 🎯 : $595, $591.50, (Continuation: $587, $585)
📜 $603 CALL 3/11
Entry: Breakout & retest over $597.70
Target 🎯: $601, $603, $603.44, (Continuation: $606, $608)
The Inside Out InvestorThere is a common misconception that investing in stocks is always stressful and emotionally overwhelming. Many people think that this activity is only available to extremely resilient people or crazy people. In fact, if you know the answers to three key questions, investing becomes a rather boring activity. Let me remind you of them below:
1. Which stocks to choose?
2. At what price should the trade be made?
3. In what volume?
As for me, most of the time, I'm just in waiting mode. First, I wait for the company's business to start showing sustainable growth dynamics in profits and other fundamental indicators. Then, I wait for a sell-off of strong company shares at unreasonably low prices. Of course, this requires a lot of patience and a positive outlook on the future. That's why I believe that being young is one of the key advantages of being a beginner investor. The younger you are, the more time you have to wait.
However, we still have to get to this boring state. And if you've embarked on this long journey, expect to encounter many emotions that will test your strength. To help me understand them, I came up with the following map.
Next I will comment on each of its elements from left to right.
Free Cash horizontal line (from 0% to 100%) - X axis
When you first open and fund a brokerage account, your Free Cash is equal to 100% of the account. Then it will gradually decrease as you buy shares. If Free Cash is 0%, then all your money in the account was invested in shares. In short, it is a scale of how much your portfolio is loaded with stocks.
Vertical line Alpha - Y axis
Alpha is the ratio of the change in your portfolio to the change in an alternative portfolio that you do not own but use as a reference (in other words, a benchmark). For example, such a benchmark could be an ETF (exchange-traded fund) on the S&P500 index if you invest in wide US market stocks. Buying an ETF does not require any effort on your part as a manager, so it is useful to compare the performance of such an asset with the performance of your portfolio and calculate Alpha. In this example, it is the ratio of your portfolio's return to the return of the S&P 500 ETF. At the level where Alpha is zero, there is a horizontal Free Cash line. Above this line is positive Alpha (in which case you are outperforming the broader market), below zero is negative Alpha (in which case your portfolio is outperforming the benchmark). Let me clarify that the portfolio yield includes the financial result for both open and closed positions.
Fear of the button
This is the emotion that blocks the sending of an order to buy shares. Being captivated by this emotion, you will be afraid to press this button, realizing that investing in shares does not guarantee a positive result at all. In other words, you may lose some of your money irretrievably. This fear is absolutely justified. If you feel this way, consider the size of your stock investment account and the percentage amount you are willing to lose. Remember to diversify your portfolio. If you can't find a balance between account size, acceptable loss, and diversification, don't press the button. Come back to her when you're ready.
Enthusiasm
At this stage, you have a high share of Free Cash, and you also have your first open positions in stocks. Your Alpha is positive. You are not afraid to press the button, but there is a certain excitement about the future result. The state of enthusiasm is quite fragile and can quickly turn into a state of FOMO if Alpha moves into the negative zone. Therefore, it is critical to continue learning the chosen strategy at this stage. A journey of a thousand miles begins with a single step.
FOMO
FOMO is a common acronym used to describe a psychological condition known as fear of missing out. In the stock market, this manifests itself as fear of missing out. This condition is typical for a portfolio with a high proportion of Free Cash and negative Alpha. As the benchmark's return outpaces your portfolio's return, you will be in a nervous state. The main worry will be that you didn't buy the stocks that are currently the growth leaders. You will be tempted to deviate from your chosen strategy and take a chance on buying something on the off chance. To get rid of this condition, you need to understand that the stock market has existed for hundreds of years, and thousands of companies trade on it. Every year, new companies emerge, as well as new investment opportunities. Remind yourself that you are not here for one million dollar deal, but for systematic work with opportunities that will always be there.
Zen
The most desirable state of an investor is when he understands all the details of the chosen strategy and has effective experience in its application. This is expressed in positive Alpha and excellent mood. Taking the time to manage your portfolio, developing habits and a disciplined approach will bring satisfaction and the feeling that you are on the right track. At this stage, it is important to maintain this state, and not to chase after thrills.
Disappointment
This stage is a mirror of the Zen state. It can develop from the FOMO stage, especially if you break your own rules and invest on luck. It can also be caused by a sharp deterioration in the condition of a portfolio, which was doing well in the Zen state. If everything is clear in the first case, and you just need to stop acting weird , then in the second situation you should remember why you ended up in a state of Zen. Investments are always a series of profitable and unprofitable trades. However, losing trades cannot be considered a failure if they were made in accordance with the principles of the chosen strategy. Just keep following the accepted rules to win in the long run. Also remember that Mr. Market is crazy enough to offer prices that seem absurd to you. Yes, this can negatively affect your Alpha, but at the same time provide opportunities to open new positions according to the chosen strategy.
Euphoria
Another way out of the Zen state is called Euphoria. This is typical dizziness from success. At this stage you have little Free Cash, a large share of stocks in your portfolio and phenomenally positive Alpha. You feel like a king and lose your composure. That is why this stage is marked in red. In a state of euphoria, you may feel like everything you touch turns to gold. You feel the desire to take a risk and play for luck. You don't want to close positions with good profits. Furthermore, you think you can close at the highs and make even more money. You are deviating from the chosen strategy, which is fraught with major negative consequences. It only takes a few non-systemic decisions to push your Alpha into the negative zone and find yourself in a state of disappointment. If your ego doesn't stop there, the decline may continue.
Tilt
A prolonged state of disappointment or a rapid fall of Alpha from the Euphoria stage can lead to the most negative psycho-emotional state called Tilt. This term is widely used in the game of poker, but can also be used in investments. While in this state, the investor does everything out of strategy, his actions are chaotic and in many ways aggressive. He thinks the stock market owes him something. The investor cannot stop his irrational actions, trying to regain his former success or get out of a series of failures in the shortest possible time. This usually ends in big losses. It is better to inform your loved ones in advance that such a condition exists. Don't be embarrassed by this, even if you think you are immune to such situations. A person in a state of tilt withdraws into himself and acts in a state of affect. Therefore, it is significant to bring him out of this state and show that the outside world exists and has its own unique value.
Now let's talk about your expectations, as they largely determine your attitude towards investing. Never turn your positive expectations into a benchmark. The stock market is an element that is absolutely indifferent to our forecasts. Even strong companies can fall in price if there is a shortage of liquidity in the market. In times of crisis, everyone suffers, but the most prepared suffer the least. Therefore, the main task of a smart investor is to work on himself until the moment he presses the coveted button. There will always be a chance to do this. As I said, the market will not disappear tomorrow. But to use this chance wisely, you need to be prepared. This means that you should have an answer to all three questions above. Then you will definitely catch your Zen.
Spy will clear 615Looking at SPY over the past few weeks on the daily chart. We will see several time spy has tried to come down. This noticeable in chart gaps on the daily. Each time the gaps filled back in going up. Quote unquote news that may not have been favorable to the US has tested the market and it did not break. I believe that overall buyer sentiment is good and health. At this point the only thing to shake the market to its knees would be globe conflict. With Trump in office. There is overall confidence in the market and at this time rumbling in the news will not shake it. The bulls are getting ready to have a field day.
SPY/QQQ Plan Your Trade For 2-11 : GAP DefenderThe GAP Defender pattern is where price struggles to maintain a recent open GAP - attempting to defend against closing that GAP.
In my mind, this is the lower GAP window between 601.30 and 602.75 (yesterday's opening GAP range).
If this recent gap is filled, then I suggest the SPY will attempt to move downward (into my Deep-V breakdown) trying to target the lower GAP near 584.29.
Watch Gold and Silver as they continue to breakdown. Any big breakdown in metals should be considered a warning sign the markets are moving into a PANIC phase (selling).
We have lots of news today (Powell and other Fed members testifying) while we just found out Trump initiated a larger tariff on steel. I believe the strength of the US Dollar will continue to put pressure on global currencies - possibly leading to even more foreign market distress. This may result in a broader global market breakdown over the next 5-10 trading days.
Remember, we have the Deep-V pattern setting up this week and another Major Bottom pattern setting up on Feb 21. I interpret this as a dual-breakdown event - where price attempts to move downward and tries to identify solid support.
Bitcoin will likely follow this trend downward over the next 5 to 10+ days.
Buckle up.
It looks like today may be the day my Deep-V breakdown starts to drive prices lower for the SPY/QQQ and other major sectors.
We'll see how things play out.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
SPY BEARISH BIAS RIGHT NOW| SHORT
Hello, Friends!
Previous week’s green candle means that for us the SPY pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 596.89.
✅LIKE AND COMMENT MY IDEAS✅
Major Move spirals 2/13 alt 3/10The chart is a small updated chart of the spy and 3 spirals F5 is 2/13 F6 and F10 and the peak10/10/2007 The PEAK is march13th 2025 F24. The market is Now coiled in a point in which we should now see a swing If we peak on 2/13 well things would be ugly into the march turn . If we break above the top from the spiral of 11/29 to 12/5 Both were the TOPS then we would see the real Frothy market Peaking Last of the MONEY ALL IN GROUP . Best of trades WAVETIMER
$SPY: price is heading up into resistance. Decision point.AMEX:SPY analyses are provided on three timeframes with the primary purpose of showing how simplicity & consistency may help to avoid mass media noise disruption and get a clear picture.
Currently, we have uptrends on a monthly and weekly basis. Simply following all-new swings, forming higher highs or lower highs, and higher lows or lower lows, we can see what the price is doing in reality, not in our expectations or mass media expert expectations, a ka forecasts. This exercise is useful for training your eye and providing a clear answer: where the price is NOW.
And where will the price be soon? First, it depends on deciding the exact timeframe, 1 sec, 1 min, 15 min, 4 hours, 1 day, 1 week, etc., and not to overthink things. It is funny, but not overthinking is not a very easy task, at least on my end.
For this theoretical exercise, the most fun is happening on a daily basis. Monthly and weekly are the lenses that help to figure out what is going on on a daily basis. The more possibility (not probabilities) right now is that the price will continue to rise. The detailed analysis is on the charts.
The sentiment data source is www.aaii.com And a cherry on the cake, we are in a very bearish environment right away, having a significant skew vs the historical average.
Why does it matter?
The answer is that when the sentiment is at its extremes, the move is likely to be in the opposite direction. I learned it by reading Twits by Linda B. Reschke, then checked on my own, and now I always keep an eye on this source.
Stay profitable!
No financial and investment advice here, only personal thoughts are provided for informational purposes only
End of hibernation for the bears?AMEX:SPY is at a pivotal point and could potentially be at the top of the bullish cycle that began in October 2022. If this prediction proves accurate, I think we could see a maximum low of $510 for this year. There are a couple of caveats, including one that will be a clear indicator of whether or not this wave count is accurate, which I will explain later.
On the 1000R chart ($10), this uptrend was confirmed by Supertrend and volume activity. Volume drastically increased at the start of Wave (3) in March 2023 and did not taper off until the start of Wave (4) in July 2024. This was the strongest impulse in the trend, which is common for Wave 3. You can also see the ADX line of the DMI indicator (white line) was at its highest level during that period.
Assuming Wave (5) is already complete, we can observe that the volume in Wave (3) was considerably less than Wave (5).
Other observations supporting this wave count:
- Wave (4) retracing into the territory of Wave 4 of (3)
- Alternation in corrective patterns between Wave (2) and Wave (4); flat in (2) and straight down in (4)
- Wave (5) extending to nearly 1.618 of (1)
While the points I’ve made so far suggest that the market may be on the verge of a crash, the image gets more complicated when you take a closer look on the 250R chart ($2.50). I’ll start with what I’m counting as Wave 4 of (5). The price ended at ATH in Wave 3 and then corrected in an unmistakable five wave descending wedge pattern. This can only be a fourth wave of a larger impulse, so we can conclude with a fair amount of confidence that the wave that follows will be the last.
Here is where things get interesting. The price moved from $575 on January 13th to a slightly higher ATH of $609.24 on January 24th before being rejected again. This uptrend unfolded in a typical bullish pattern and left a notable gap at $584, which is the only gap still left unfilled. The trend change is confirmed on the moving averages. Notice the serious drop in volume that followed as well.
Despite the shift in volume, there are two issues I have with this wave count that are preventing me from calling this a confirmed correction:
1. Wave 5 of (5) was awfully short and only extended roughly $2 above the end of Wave 3 of (5). This does not break any rules, but it is unusual.
2. What I have labelled as Wave B of Wave (1) or (A) of the correction made a new ATH on Friday February 14th, which should invalidate this wave count since the end of Wave 5 of (5) should be the peak.
The second point is why some may think that we are about to resume the larger bull trend, however there is a possibility that they are mistaken based off the PA on the actual index SP:SPX and futures CME_MINI:ES1! . On the SP:SPX chart, we can see that the index did not break the ATH at $6128.18 set on January 25th, and instead rejected at $6,127.24.
CME_MINI:ES1! also failed to notch a new ATH on Friday and I have observed the price action create a nearly perfect bearish butterfly pattern. Also notice how the volume is significantly lower than in the uptrend that began on January 31st.
So the question remains: are we at a tipping point or will the bulls regain control? Right now it’s unclear, but I will keep my bearish sentiment until SP:SPX makes a new ATH, which will invalidate this theory. Since only the ETF that tracks it only made a slightly higher high on low volume, I’m skeptical of the PA on AMEX:SPY at the moment. This is why I entered puts on Friday.
If the trade plays out, I expect the price to quickly move to fill the gap at $584, which is still conveniently located at what I cam considering the 1.236 extension of Wave A, which is a common target extension in flat corrections. I will keep my puts open until this idea is invalidated, as the Wave C drop will likely be caused by a news event that could come at any time. Let me know if you guys are seeing the same thing or something different. Good luck to all!
lots of linePlease look at these lines. I know whats coming. Trust me, I make bad trades consistently but this time it is different. PReTy LiNes.
SPY - RISK OF BEAR MARKET VERY REALTrumps tariffs is going to be the catalyst for a bear market that the US needs to have. I'm expecting a 30% - 40% drop at most but don't worry, it will be a good time to buy when the dust settles.
The RSI is painting bearish divergence on monthly. Big sign of drop.
The MACD is curving downwards. Also a big sign that we'll be dropping soon.
Bear cycles typically last only 1 year. But its alright, I'll be there to buy spy when its cheap because I have confidence in the US to produce cool new things and figure out new innovations.
Also intrest rates will drop, money printer go BRRR and dumb money flows back into the space.
$SPY February 13, 2025AMEX:SPY February 13, 2025
Yesterday also gap analysis. But took support at daily averages 598 levels as mentioned in the previous day analysis.
For the rise 598.52 to 604.55 holding 602 levels is important today.
At the moment AMEX:SPY weak below 600 levels for a possible target 597.5 598 levels for the day.
$SPY February 14, 2025AMEX:SPY February 14, 2025
15 Minutes.
As expected, once box was broken yesterday AMEX:SPY continued to make upward movement.
For the rise 598.52 to 607.49 to 605 61.8% extension was nearly done. Once 611 is crossed we can expect some resistance around 612-614 levels.
611-612 will be a good number to short as 4SPY in 15 minutes is getting away from 200 and 100 moving averages.
If uptrend continue today, then near close short around 612 +-1 will be good for Monday SL 614.5.
At the moment there is slight oscillator divergence in 15 minutes so need some more uptrend to short.
So, for the day for the last rise from 605 to 609.94 holding 606-607 is important for 610-612 as target.
Below 606 at the moment target is 603-604 levels.
$SPY *BREAKOUT* above the downtrendAMEX:SPY *BREAKOUT* above the downtrend
WOWZA, but bigger move than I expected. We saw a breakout above the downtrend off of ATH’s (initial rejection then drop to the 35EMA and then bounce to breakout)
So the CPI/PPI move was drop to the 50DMA and bounce. Wild stuff, y’all. Inflation data days never cease to amaze me.
Let's see if we get a follow through to close the week...
SPY at a Critical Level! Key Trade Setups for This Week 🚀SPY has pushed into a strong resistance zone near 609-610, with a breakout attempt forming. The overall structure suggests a bullish continuation, but options flow data reveals hedging activity, which could lead to short-term pullbacks.
🔍 Technical Analysis
* Trend Structure: SPY has broken out from consolidation and is trending upward, testing a key resistance zone at 609-610.
* Support Levels: 602.5, 600, 595 (watch for retracements)
* Resistance Levels: 610 (key level), 615, 620
* Volume Profile: Increased buying volume supports the breakout, but momentum slowing.
* Indicators:
* MACD: Still bullish, but momentum is flattening.
* Stochastic RSI: Overbought (>90), suggesting potential cooling-off.
📊 GEX Analysis & Options Flow
* Highest Positive GEX (Gamma Resistance): 610
* Major Call Walls: 615 (67.99%) and 620 (71.08%) – suggests resistance near these levels.
* Major Put Walls & Supports:
* 600 (-48.64%) & 595 (-49.94%) – major gamma supports
* 590 (-32.78%) – critical level for trend continuation.
* IVR: 13.3 (Low volatility conditions)
* Options Bias: PUTS 68.7% (some downside hedging)
🚀 Trade Setups
Bullish Scenario:
* Entry: Above 610 (breakout confirmation)
* Target: 615, 620
* Stop: 602
Bearish Scenario (Pullback Play):
* Entry: Below 609
* Target: 602.5, 600
* Stop: 612
🔎 Conclusion & Outlook
SPY is at a make-or-break level near 610. If it holds and pushes higher, expect a run to 615-620. However, options flow suggests hedging near 600, meaning a pullback could occur before a breakout. Monitor volume and price action closely.
⚠️ Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and trade responsibly.
SPY... Parallel lines can be a funny thingJust add a Fib percentage to some parallels and you get something interesting...I didn't do that, but there is an idea for you to engage in.
no, this was simple a bunch of parallels using the tool but switching the numbers to both odds and evens and running them in...parallel :)
Just use the Log "L" function if things don't make sense...cause in the lead up to this top, these lines predicted a bit of movement...
look at that angular change...totally like your boost right before the headers crack and all goes to basically a standstill.. :)
notice the past line and their relative price guessing... :)
$SPY Analysis, Key Levels & Targets for Day Traders Feb 14AMEX:SPY Analysis, Key Levels & Targets for Day Traders Feb 13
Ok so where are we at. We broke out above the downtrend yesterday just under ATH’s.
35MEA is underneath the implied move which often signals too fast to soon and a pull back is normal before moving higher.
30min 200MA is underneath both days implied move and you can see that for CPI and PPI that 35EMA bounced on the 30min 200 after 3 weeks of consolidation.
All right, ATH’s on deck. Let’s see what happens. I did put on an IRON SPYDER which works well after big moves for a more neutral day - the flatter the better for me today.
Make sure you grab this chart and let's goooo... 💃🏻
SPY Pre-Market Scalping Setup – Key Levels & Trade Plan Feb. 12📅 Date: February 12, 2025
🕒 Timeframe: 15-Minute Chart
🎯 Strategy: Scalping SPY at Key Levels
🔍 Technical Overview
SPY is forming a tight wedge pattern, signaling an imminent breakout.
Key resistance and support levels are clearly defined, and we are preparing for a high-probability scalp setup.
📌 Key Levels:
* Resistance: 🔵 605.80 - 606.00 (Breakout Zone)
* Support: 🔴 603.67 & 601.90 (Breakdown Zone)
📉 Bearish Scenario (Short Entry)
* Breakdown below 603.67 could trigger selling pressure toward 601.90.
* Entry: Below 603.50, with confirmation.
* Target: 601.90 - 601.50
* Stop Loss: Above 604.00
📈 Bullish Scenario (Long Entry)
* Breakout above 605.80 could lead to momentum toward 607.00+.
* Entry: Above 606.00
* Target: 607.50 - 608.00
* Stop Loss: Below 605.50
📊 Indicators & Momentum
* MACD Flattening: Waiting for momentum shift.
* Stochastic RSI Curling Up: Potential move soon.
* Volume Watching: Need confirmation on breakout direction.
🔥For more real-time scalping insights, check out my profile bio.
📢 Disclaimer: This is for educational purposes only. Always manage risk accordingly.
--------
🔍 Technical & GEX Overview
SPY is trading near key Gamma Exposure (GEX) levels, which will dictate today’s market sentiment and potential price movement. Options positioning suggests a critical decision zone around 603 – 605, with possible directional bias forming.
📌 Key Levels to Watch:
* 🚀 Upside Targets:
* 610: 🔥 Major Call Wall (76.34% Call concentration)
* 615: 🚀 3rd Call Wall (66.83% Call positioning)
* 620: 🏆 Key Resistance (78.41% Call Resistance)
* 📉 Downside Support Levels:
* 600: ❗ Highest Negative NETGEX (Strong Put Support)
* 595: ⚠️ 2nd Put Wall (-92.08% Put Density)
* 590: 🛑 3rd Put Wall (-61.58% Put Density)
🟢 HVL (High Volume Level): 603, aligning with current price action—this zone is a key pivot area.
📈 Bullish Scenario:
* SPY holding above 605 could push toward 610+ as market makers hedge call exposure.
* Confirmation with a break above 606 for continuation.
* 🚀 Target: 610 – 615
* 🔄 Stop Loss: Below 603
📉 Bearish Scenario:
* A break below 600 could trigger downside momentum toward 595, especially if large put walls remain dominant.
* 🚨 Target: 595 – 590
* 🔄 Stop Loss: Above 603
📊 Market Sentiment & GEX Summary
* 🔴 Puts Dominance: 72.3% PUT positioning—indicates hedging pressure.
* 🟢 IVR (Implied Volatility Rank): 14.7 (Low volatility, indicating a slow move unless breakout occurs).
* ⚠️ Watch for liquidity shifts near 603-605 to confirm breakout direction.
📢 Trade Carefully & Manage Risk!
📍 Follow for Daily SPY GEX & Scalping Insights!
🚀 Let's trade smart together! 💰📊
$SPY Analysis, Key Levels & Targets for Day Traders Feb 13
OK - so the 30min 200MA AND 35EMA are right in the middle of the trading range. Literally just right in the middle so it’s gonna be a battle today.
Top of the implied move is 608 and the downtrend line is there off of all time highs. Friday’s top of the implied move is 609
Underneath - 50 Day Moving average, 1hr 200MA and stupid Willy is looking kind of sickly, lol.
You can just look at this chart and see the sideways price action here.
Let's Go, y'all!! 💃🏻
$SPY Analysis, Key Levels & Targets for Day Traders for Feb 10 2AMEX:SPY Analysis, Key Levels & Targets for Day Traders for Feb 10 2025
Alright, so 35EMA is right at the 30min 200MA. This is a critical level and in SPX we’re bearish already and looking for a follow through.
Expected move today 595-606
5 Day moving average underneath us and 1hr 200MA in range as well.
Downtrend above everything - and a red signal line.
I’m looking for a close near the 50DMA.
$SPY February 12, 2025AMEX:SPY February 12, 2025
15 Minutes
Yesterday Gap down not held.
Low was not broken.
For the last rise 603.1 to 605.85 4SPY need to hold 604 levels today for uptrend to continue.
On downside we have strong support at 603 levels being 200 average and 9 day moving average in daily and 600-601 being 21 days in daily.
So, I see a range trade today between 603 to 606.5 ot 607 levels on upside.
