SPY/QQQ Plan Your Trade Special Update : BUCKLE UPThis video is a special update for all TradingView members. I felt I needed to share this information and present the case that I believe poses the most significant risk to your financial future - and it's happening right now.
Several weeks ago, I identified a very unique mirror setup in the SPY and kept an eye on how it was playing out. I needed to see confirmation of this setup before I could say it had any real likelihood of playing out as I expected.
As of today, I'm suggesting that we now have excellent confirmation that the US/Global markets are about to enter a deep consolidation phase, lasting through the rest of 2025 and possibly into 2026 and early 2027.
The interesting thing about this price pattern/structure is that it is almost exactly the same as the 2003-2007 structure, which I believe is the origin of this mirror setup. Almost down to the exact type of price bars/patterns I'm seeing.
Many of you are already aware that I've been calling for a critical low cycle in the SPY on July 18 for many months. What you may not realize is that the pattern is based on Weekly price data. The July 18 cycle low can have a span of +/- 1-3 weeks related to when and how the cycle low pattern plays out.
Watch this video. If you have any questions, message me or comment.
I'm still here, doing my best to identify and unlock the secrets of price action and to help as many traders as I can.
Price is the Ultimate Indicator.
Get some.
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S27 trade ideas
SpyBig week here. Rarely do you get big banks and big tech earnings on the same week..
Jpm, Goldman sach, and JNJ are dow jones heavy weights.
This is important because I think Dow will close that gap at 44,850 and most likely retest ATH at around 45,000.
As long as dow closes above 44,200 Monday, they will do this move
Now logically you have to ask yourself, If Dow jones moves 800pts or 2% what will spy do?
Well unless Nasdaq gives it all up early in the week then Spy will grind higher..
NASDAQ:QQQ
2hour chart is mimicking
June's price action
Even similar bearish Divergence on RSI
So will tech Roll over this week?
TSM and NFLX both reporting..
Qqq 30min price action, as long as price holds above 548.50 I wouldn't short this at all
As you can see with the yellow channel price will be range trading between 551-555. Over 558 and 560 comes.. below 548 and 544 comes.
This is actionable trading, I know some of you want a bigger picture on the short side but until we break below the 20sma I really don't like going full bear at the beginning of earning season...
Yes, alot of things are flashing red signaling a major correction is looming , for Example here's XLC. This is the sector of NASDAQ:NFLX and NASDAQ:META
Here's the weekly chart and RSI
Very bearish bigger picture here, I could easily see this sector and the big names inside it going back to April lows
But then You have AMEX:XLY
The sector of NASDAQ:AMZN and NASDAQ:TSLA
Nothing is bearish Herr and as long as it holds 217 they are going to push this back to ATH.
NASDAQ:AMZN chart is completely identical
So let's say NFLX and Meta have down days similar to last Friday but Amzn and Tsla pumps then you will get a small pullback unless the chipsector dumps also 😉. Remember there's always a bull in the market, they'll just rotate into something less overbought..
Only time you really see majority selling off is when there is a catalyst (Carry trade, tariffs) or Seasonality (March, Sept)..
So I'm bearish on Chips NASDAQ:SMH and I'm bearish on AMEX:XLC but you have to be selective..
I wouldn't short
NASDAQ:TSLA
NASDAQ:AMZN
NASDAQ:GOOGL
NASDAQ:AAPL
Those stocks will likely outperform this Quarter.
As far as the banks earnings , even if they pop, I think this will be a sell the news event and this sector AMEX:XLF (Big banks) is headed for a massive correction
The Small banks AMEX:KRE
Have almost completed their V shape recovery and will most likely correct after this week
Daily technicals are overbought similar to IWM but the weekly is where you see caution
Top of weekly Bollingerband always leads to a major sell the following week
AMEX:SPY
15min chart
I'm bullish early in the week, I think they will buy the dip ahead of earnings so if they open up near Friday's low or the 15min 200sma they could buy it there, below 621 and they will go for the gap close at 620; that will be another dip buy opportunity . Stop loss 619.00
Below 619.00 and they have a gap left open at 614.84 to close. Stop loss 15min 200ma
Trade Idea of the week is NASDAQ:GOOGL
Bullish ascending triangle forming under 182.00 resistance.. Price may breakout this week
4hour chart Friday finished with a Shooting star so we could start the week with a pullback but I think googl will hold 177.00 support and that's a good entry for a long.. or wait for conformation which would be a break above 182.00..
So 177 or 182 is my entry
Googl is only bearish below 172.00 or 200ma
Personal opinion This administration Has promised 200 trade deals and have gotten only 3 so far. As we get closer and closer to August investors will get nervous and I think we will see another major sell! He's has kicked the tariff can down the road as far as it can go and still these countries are calling his bluff. Becareful because I think the next time trump won't fold
SPY at Key Support! Will It Hold or Break? TA for July 16🧨 GEX-Based Options Outlook:
* GEX Sentiment: Negative gamma dominates (🟥 GEX 🔻), indicating elevated dealer hedging risk.
* Put Wall & Support:
* Major PUT Wall at 620 (⚠️ -38.47%) is being tested.
* Additional downside liquidity lies below 618.
* Call Resistance:
* Upside resistance around 625–627, where both the 2nd CALL Wall and GEX7/8 sit.
* IV/Flow Summary:
* IVR 12.3 (low), PUTs 57.2% – bearish skew.
* Option flow is protecting downside → less confidence in upside follow-through unless we reclaim 624.5+.
* Conclusion: SPY is pinned around major support. A breakdown under 620 could accelerate downside into 616/614 range.
📉 1H Price Action & Trade Setup:
* SPY formed a CHoCH breakdown and is retesting the wedge base.
* Strong rejection from the 624.81–627.96 supply zone.
* Price is now hugging trendline support and could trigger a bounce or further breakdown depending on liquidity sweep.
Bullish Scenario:
* ✅ Entry: Above 621.50 reclaim with confirmation.
* 🎯 Targets: 624.50 → 626.80.
* ⛔ Stop: 620 or below trendline.
* ⚠️ Note: Only valid if SPY holds the CHoCH base and sweeps under 620 to trap bears.
Bearish Scenario:
* ❌ Entry: Clean break below 620, especially if it fails a retest.
* 🎯 Targets: 618 → 615.50 → 612.
* ⛔ Stop: Back above 622 with volume.
🎯 My Thoughts & Recommendation:
SPY is balancing on a major PUT wall and SMC support trendline. If 620 fails, the path of least resistance is down toward 615 and potentially 612 due to the lack of supportive gamma levels below. A relief bounce is possible only if dealers regain control above 624. Keep stops tight, as this zone could snap quickly.
This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk before trading.
SPY: Bearish Gamma Pin Threatens Breakdown. TA for July 14SPY: Bearish Gamma Pin Threatens Breakdown – What to Watch This Week 🧨
🔸 GEX-Based Options Sentiment (Tanuki GEX Zone)
* GEX Summary:
* Highest Call Wall (Resistance): 625–628 → strong resistance zone.
* Highest Put Wall (Support): 618 → major gamma defense line.
* GEX Flip Zone / NETGEX Support: around 620, where negative gamma begins accelerating downside moves.
* Current GEX Bias: Bearish
* GEX: 🔴
* IVR: 9.8 (very low)
* PUTs %: 51.1% (risk off bias)
* Call walls stack above, forming a clear ceiling.
* Interpretation & Options Strategy:
* As long as SPY trades below 625, the call resistance stack and bearish gamma exposure favor PUT buyers.
* Breakdown below 620 may trigger an acceleration to 617 and even 615 where deeper PUT walls exist.
* Avoid calls until SPY reclaims and holds 626.88+.
* ✅ Suggested Options Play (Bearish Bias):
* PUT 620p / 618p, 0DTE–2DTE if under 623.
* Stop if price holds and reclaims 625.50+ with volume.
🟦 1H Chart Analysis – Price Action, SMC, and Trade Setups
* Market Structure:
* After the recent BOS, price formed a tight rising wedge, then broke CHOCH and now sits inside a retest box.
* This shows distribution behavior and vulnerability to breakdown.
* A clear CHOCH + BOS sequence is already completed on the 1H.
* Current Range & Zones:
* Consolidation Box: 621.50–625.50
* Trendline Support (lower channel): 621–620
* Demand Zone (H1): 617–618
* Critical Liquidity Below: 615–613.50
* Trade Setup – Scalp/Swing View:
Bearish Scenario (More Likely):
* 🔻 Entry: Under 623 with confirmation
* 📉 Target 1: 620
* 📉 Target 2: 617.50
* ❌ SL: 625.50
* 📈 Optional hedge/reversal: Flip long if 626.88 reclaims (very aggressive).
* Bullish Scenario (Low Probability unless reclaim):
* ✅ Entry: Above 627
* 🎯 Target 1: 629–630
* ❌ SL: Below 625
🧠 Final Thoughts:
* SPY is currently sitting in a gamma trap zone, where it’s pinned between major put support (620) and call resistance (625+).
* If price slips below 620, gamma forces could rapidly drive it to 617–615 zone.
* Until we see strength above 626.88, the path of least resistance remains down.
⚠️ Disclaimer:
This analysis is for educational purposes only. Always do your own research and manage risk properly before trading.
$SPY: Composite Sub-Cycles (Recursive)Research Notes Documenting Commonality
I’ve identified several bar patterns that formed following significant historical declines. They share notable similarities, as if suggesting that the magnitude of past major moves sets the structure of subsequent groups of sub-cycles (which I call "building blocks" sometimes).
I placed them in respect to current scaling laws so the method of exclusion can be applied in order to familiarize with typical "terrain" of price dynamics at such phase. Documenting them because a direct study is the most effective approach to uncovering the essence of recursive patterns.
Some of the bar patterns are lowered to highlight temporal aspect which matters more than price scale.
Select Your Trading Time
There’s an old saying:
“Plan your trade, and trade your plan.”
But I want to add something even more important:
“Pick your time to trade.”
---
💰 The Market Is Not Your ATM
Everyone enters trading with one goal: make money.
Some even think of the market as an ATM — pull the handle, cash comes out.
But the truth is:
❌ The market doesn’t care about your goals
❌ It won’t move just because you need to make money today
This is a brutal game. And you don’t control the clock.
---
⚠️ When You Force a Trade...
Too many traders say:
“I have to make money today.”
“I need to hit $X this week.”
“I just took a loss, I must come back now.”
That kind of thinking leads to:
Bad entries
Overtrading
Emotional decisions
Big losses
❗ Trading success doesn’t come from forcing outcomes — it comes from waiting for the right moments.
---
🧠 What Happens on Low-Volatility Days
Let’s take today as an example.
SPY moved in a 2-point range all day.
No momentum, no trend, just chop.
Some traders:
Ran one QS signal after another
Forced trades just to feel busy
Got chopped up by fast reversals
Then blamed the signals
But here’s the truth:
AI or not , you can’t expect any long-volatility trade to work when the market is dead still.
The only winners on days like today? Market makers and options sellers.
---
❓ Why Trade at All on a Day Like This?
If the market isn’t offering opportunity,
Why force it? Why chase trades? Why burn your energy?
The smarter move is:
Sit out
Observe
Wait for better setups
Preserve your mental and financial capital
---
🔄 Recovery? Yes — But on Your Terms
Some traders lose money and say:
“I need to make it back today.”
That’s emotional revenge trading.
What if the market doesn’t give you a clean opportunity today?
Are you still going to go all-in, out of frustration?
❌ That’s not a strategy. That’s gambling.
---
📍 QS Signals Are a Map — Not a Magic Button
QS AI signals help you find opportunities — but even the best map won’t help if:
You're in the wrong city (bad market environment)
You’re rushing without checking road conditions (volatility, news, timing)
Even with QS, you don’t have to trade every day, every hour.
---
✅ What You Should Do
Be patient
Respect market conditions
Take a break on slow or tricky days
Come back when the odds are in your favor
---
🧘♂️ Final Words
You don’t have to win every day.
You don’t have to trade every day.
You don’t even have to be active to be successful.
🎯 Trade less. Trade smarter. Select your time wisely.
That’s how real traders survive and thrive in this game.
SPY (SP-500) - Rising WedgeYesterday we had a breakdown of the rising wedge on SPY. I draw out some important levels to look out for coming days/weeks. The trendline since april has also been broken. ICEUS:DXY is breaking out to which is increasing the risks for a "Risk off" scenario in tech stocks and crypto.
Nothing here should be interpreted as financial advise. Always do your own research and decisions.
SpySooooo.. the technicals are flashing red.
No earnings
No fed Speak
No economic data
We'll need a catalyst to get the reset going.
There are 2 catalyst
1. Tariffs
2. 30yr bond auction Thursday
I actually think between July 7th- 17th
We will retest the previous high between 610-611. Depending on how long this takes the 20sma should gravitate toward 610 by the End of this week.
The last two major Pullbacks actually took 2weeks and the price action was terrible. I circled it to illustrate
And this is why I said this pullback could take up to July 17th to complete.
July 18th is the kick off of big bank earnings and let me tell you from experience, you don't want to be going into earning season short especially if seasonality is against you.
Banking sector
AMEX:XLF
I think price pulls back with the rest of the marker but pushes back up to 54-55.00
With bank earnings
From there I expect a bigger correction
Weekly chart says banks won't make it out of July alive . Most likely a sell back to 49-50 or 10% drop
I would say this market would on be bearish with a close back beneath 600.00 on spy.
The problem with that is, not every big tech stock is overbought and some actually look like they are about to rally higher.
Here's an example of what I mean
So here's NASDAQ:SMH or chip sector which is a reflection of Nvda and TSM
Weekly technicals are saying a pullback is coming for this sector!
RSI, Moneyflow are too overbought on both weekly and daily time frames so I'm expecting weakness here over the next few weeks.
On the other hand you have
AMEX:XLY
This is the sector that reflects
Amzn and Tsla
The white line represents the resistance price was consolidating behind for 2months.
The purple circle represents a major bullflag
The green line is the V shape recovery that I think is about to happen with this sector this quarter.
Price may retest 217-218 but if that holds this sector and the stocks in it will outperform.
So what happens with the Spy if let's say you have
Msft
Nvda
Avgo
Tsm
All red
And then
Amzn
Tsla
Googl
Aapl
Mostly green?
Fawkery lol.
And this is why I say a pullback to 610 and then we'll see..
AMEX:IWM and TVC:DJI still have a little room left to move higher but both are supper extended on the daily time frame and I expect a pullback from them this week
There is 2 red flags I see on a bigger time frame and that is TVC:NYA and TVC:VIX
NYA weekly chart
Near the top of rising wedge here which means for the broader marker you will start seeing weakness in a few weeks
Price could grind up here for a few weeks but I doubt we break above 21,000
Vix
Daily chart and RSI
Is screaming that a move to 23 is imminent
If the vix pops back above 20 I can't see the Spy holding above 620
Trade ideas
NASDAQ:TSLA
I like calls above 322.00
Target 332.
Have patience for the move above 322, tsla is beneath all its moving averages right now!.
332 will be tough, if price can break above that then 347 is next up
NASDAQ:QQQ
557 is resistance .
I like the short to 552 gap support. At 552 I'd cover and wait for a break below 548.00 to short to 544..
Below 543.00 and we close gap at 539. I don't think price will drop back below 539 before tech earnings
Be careful about swinging short, it will only work if there is a vicious sell off. Otherwise you will find yourself with annoying small gap ups that will drag this out like I highlighted above on the Spy chart with the last to previous Pullbacks.
So what I'm looking for over the next 2 weeks is a retest for Spy 610 and qqq 540. Then we go into earning season
SPY: Short Signal Explained
SPY
- Classic bearish formation
- Our team expects pullback
SUGGESTED TRADE:
Swing Trade
Short SPY
Entry - 623.61
Sl - 633.09
Tp - 606.99
Our Risk - 1%
Start protection of your profits from lower levels
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
❤️ Please, support our work with like & comment! ❤️
Elliott Wave Analysis: SPY Poised To Extend Higher In Bullish SeElliott Wave sequence in SPY (S&P 500 ETF) suggest bullish sequence in progress started from 4.07.2025 low. It expects two or few more highs to extend the impulse sequence from April-2025, while dips remain above 6.23.2025 low. SPY ended the daily corrective pullback in 3 swings at 480 low on 4.07.2025 low from February-2025 peak. Above there, it favors upside in bullish impulse sequence as broke above February-2025 high. Currently, it favors wave 3 of (1) & expect one more push higher from 7.16.2025 low in to 630.31 – 651.1 area before correcting in wave 4. In 4-hour, it placed 1 at 596.05 high, 2 at 573.26 low as shallow connector & extend higher in 3. Within 3, it placed ((i)) at 606.40 high, ((ii)) at 591.89 low, ((iii)) at 627.97 high & ((iv)) at 618.05 low.
In 1-hour above ((ii)) low of 591.89 low, it ended (i) at 605.96 high, (ii) at 603.17 low, (iii) at 626.87 high as extended move, (iv) at 620 low & (v) as ((iii)) at 627.97 high. Wave ((iv)) ended in 3 swing pullback as shallow connector slightly below 0.236 Fibonacci retracement of ((iii)). Within ((iii)), it ended (a) at 619.8 low, (b) at 624.12 high & (c) at 618.05 low on 7.16.2025 low (this week). Above there, it favors rally in ((v)) of 3 targeting in to 630.31 – 651.1 area before correcting in 4. Within ((v)), it placed (i) at 624.73 high, (ii) at 623.08 low & favors upside in (iii) of ((v)). We like to buy the pullback in clear 3, 7 or 11 swings correction at extreme area in 4 and later in (2) pullback, once finished (1) in 5 swings.
Nightly $SPY / $SPX Scenarios for July 17, 2025🔮 Nightly AMEX:SPY / SP:SPX Scenarios for July 17, 2025 🔮
🌍 Market-Moving News 🌍
🇮🇳 India–U.S. Inflation Divergence Dampens Dollar
India’s June retail inflation tumbled to a six-year low, while U.S. CPI hit its fastest pace since February—driven by tariff effects. This divergence is weakening the U.S. dollar against the rupee, pushing down dollar‑rupee forward premiums
📜 Treasury to Ramp Up T-Bill Issuance
Following the recent debt-ceiling increase, the U.S. Treasury plans to issue over $1 trillion in T-bills over the next 18 months. Money-market funds, flush with cash, are expected to absorb the supply, which could influence short-dated yields
💱 Dollar Eases Amid Fed-Related Volatility
Headline news that President Trump “highly unlikely” to fire Fed Chair Powell, coupled with stable PPI data, calmed markets. The dollar dipped slightly after earlier turmoil, while gold and bonds saw modest gains
📊 Key Data Releases & Events 📊
📅 Thursday, July 17:
(No major U.S. economic releases)
Markets will track T-bill issuance plans, dollar forward dynamics, and statements from the Treasury and Fed regarding debt and rate strategy.
⚠️ Disclaimer:
This is for educational purposes only—not financial advice. Consult a licensed financial advisor before making investment decisions.
📌 #trading #stockmarket #economy #dollar #tbills #inflation #Fed #technicalanalysis
Nightly $SPY / $SPX Scenarios for July 16, 2025 🔮 Nightly AMEX:SPY / SP:SPX Scenarios for July 16, 2025 🔮
🌍 Market-Moving News 🌍
📈 Record Bullish Sentiment Signals Rotation
Bank of America reports the most bullish fund-manager sentiment since February. With 81% expecting one or two Fed rate cuts this year, the group sees a rotation strategy replacing outright selling, with investors tipping toward sector shifts over wholesale exits
⚠️ Trump’s Fed Attacks Stir Policy Concerns
President Trump’s public criticism of Fed Chair Powell—calling for steep rate cuts and threatening removal—has raised market alarms over the central bank’s independence. Analysts warn such interference could destabilize confidence in U.S. monetary policy
🏦 Banks Prepare for Earnings Surge
Major U.S. banks are expected to report strong Q2 results this week. Enhanced trading and investment banking revenues are forecasted to offset economic uncertainties tied to tariffs
📡 Nvidia CEO to Visit Beijing
Jensen Huang is set to hold a high-profile media briefing in Beijing on July 16, signaling continued emphasis on China for Nvidia despite U.S. export restrictions—potentially a key narrative for tech markets
📊 Key Data Releases & Events 📊
📅 Wednesday, July 16:
8:30 AM ET – Producer Price Index (June)
Gauges wholesale inflation pressures; June expected +0.2% MoM vs May’s +0.1%
9:15 AM ET – Industrial Production & Capacity Utilization (June)
Monitors factory and utilities output and usage rates—key for industrial-sector health
Jensen Huang in Beijing
Nvidia CEO to lead media briefing in Beijing—a potential market mover for chipmaking and AI sectors
⚠️ Disclaimer:
This info is for educational purposes only—not financial advice. Consult a licensed professional before making investment decisions.
📌 #trading #stockmarket #inflation #Fed #tech #industrial #PPI
Nightly $SPY / $SPX Scenarios for July 19, 2025🔮 Nightly AMEX:SPY / SP:SPX Scenarios for July 19, 2025 🔮
🌍 Market-Moving News 🌍
🏢 U.S. Corp Buybacks Set to Propel Stocks
Citadel Securities expects U.S. companies to repurchase roughly $1 trillion of stock in 2025. With the blackout period ending in August, buybacks—historically strong in July, the stock market’s best month—could bolster valuations
⚖️ Fed Independence Debate Intensifies
President Trump’s continued criticism of Chair Powell has already weakened confidence in Federal Reserve autonomy. The fallout shows up in a weaker dollar, elevated Treasury yields, and rising inflation expectations—though stocks have remained resilient
🇺🇸 Immigration Rollback Sparks Economic Concern
The rescinding of Temporary Protected Status for ~900,000 immigrants could remove up to 1.1 million workers from the labor force. Analysts warn of potential stagflation risks, with GDP growth potentially down 0.3–0.4 percentage points and labor-market tightening ahead
💵 Massive T-Bill Issuance Incoming
Following the debt-ceiling deal, the Treasury plans over $1 trillion in T-bill issuance in the next 18 months. Money-market funds are expected to absorb much of it, influencing short-term rates and cash-market dynamics
📊 Key Data Releases & Events 📊
📅 Friday, July 19:
8:30 AM ET – Initial Jobless Claims
Weekly figure on new unemployment filings—a real-time indicator of labor-market resilience.
8:30 AM ET – Existing Home Sales (June)
Measures signed contracts on previously owned homes; key for gauging housing-market health.
All Day Events:
Ongoing corporate buybacks entering open window
Treasury auctions and T-bill issuance updates
⚠️ Disclaimer:
This information is for educational and informational purposes only and should not be construed as financial advice. Always consult a licensed financial advisor before making investment decisions.
📌 #trading #stockmarket #economy #monetarypolicy #debt #housing #labor #technicalanalysis
Earnings Heat Up - 6300 and 6200 SPX Key Levels RemainMarket Update
SPX Key Levels
-SPX poked 6300 Tuesday, Thursday, and poked higher Friday (but settled back to 6300)
-6200 support remains a key level
-6050/6000/5800 next floor levels, I'll be looking for dips
I can see the market slowly (and I mean SLOWLY) grinding higher but preparing for a
reasonable seasonal selloff through end of July into end of September window
July 28-August 1 is a monster week in the markets
-Megacap Earnings (MAG7 Tue/Wed/Thu)
-Wed July 30 - FOMC (Pause expected but Powell's Press Conference is important)
-Friday August 1 - Non-Farm Payroll, Tariff Deadline
I'm hitting fresh YTD highs so I'm not complaining about this melt-up and grind, I'm simply wanting to allocate positions and add to my positions at better levels and with a slightly
higher VIX to help take advantage of the expected move being greater than the actual move
Have a great weekend and thank you watching!!!
SPY: How are ya?Long time no talk.
Just an update to appease some people requesting updates haha.
Mostly going over the larger term outlook for SPY, the quarterly and some discussions on the weekly.
As always, not advice and remember to follow your strategies and risk management approaches!
Safe trades everyone!
SPY Reclaims Rising Wedge Support - Bear Trap or Breakout Setup?SPY dropped below its rising wedge earlier this week, but that move may have been a bear trap. Price quickly reversed, reclaiming the wedge trendline and closing just below a key Fibonacci level at 629.84.
Buyers stepped in aggressively near the 0.382 and 0.236 retracement zones, defending short-term support. The bounce came on increased volume, signaling strength behind the recovery. Momentum remains intact as long as SPY holds above 626.
Now, bulls need to confirm with a breakout above 629.84–631.96 to open the door to the next levels at 635.63 and 640.30. Failure to break through could lead to another rejection and revisit lower support zones.
Levels to watch:
Support: 626.64, 623.62, 619.60
Resistance: 629.84, 631.96, 635.63
SPY is at a decision point. Reclaiming wedge support is a bullish signal, but bulls need follow-through to avoid another fakeout in the opposite direction.