SPY Trade Idea โ March 2025๐ Trade Type: Bullish Rebound Play (Short-Term Swing)
๐ฏ Thesis:
SPY has experienced a sharp pullback, bouncing off key support near 572-576 with high volume. Indicators suggest oversold conditions, hinting at a short-term relief rally.
๐ Trade Plan
๐ข Long Entry (Buy Call Options or Shares)
Entry Zone: $575 - $578 (Wait for confirmation of support holding)
Stop Loss: $568 (Below strong support; exit if broken)
Take Profit Targets:
TP1: $590 (Short-term resistance)
TP2: $600-$603 (Major resistance & profit zone)
๐ด Bearish Alternative (Hedge or Short)
If SPY breaks below $568, enter PUT options or short with:
Target: $560-$556
Stop Loss: $575