Daily SPY Outlook - Prediction (07 NOV)
📊 Market Sentiment
Market sentiment is slightly bearish as expectations for a December rate cut may be delayed into 2026. We have seen some sell-offs, likely due to hedging or profit-taking activity.
📈 Technical Analysis
Price is currently pulling back from the all-time high and moving within the equilibrium zone near the 670 level, which acts as short-term support. This is where I think accumulation may occur.
📌 Game Plan
In my opinion, price could reach the 663 level before showing a potential rebound. Therefore, I plan to stay short-biased toward 663, as puts might perform well today — unless I see a strong 4H candle close after the market open.
💬For detailed insights and broader market context, please check my Substack link in profile.
⚠️ Disclaimer: For educational purposes only. This is not financial advice.
📊 Market Sentiment
Market sentiment is slightly bearish as expectations for a December rate cut may be delayed into 2026. We have seen some sell-offs, likely due to hedging or profit-taking activity.
📈 Technical Analysis
Price is currently pulling back from the all-time high and moving within the equilibrium zone near the 670 level, which acts as short-term support. This is where I think accumulation may occur.
📌 Game Plan
In my opinion, price could reach the 663 level before showing a potential rebound. Therefore, I plan to stay short-biased toward 663, as puts might perform well today — unless I see a strong 4H candle close after the market open.
💬For detailed insights and broader market context, please check my Substack link in profile.
⚠️ Disclaimer: For educational purposes only. This is not financial advice.
Trade closed: target reached
Target fully reached. Position closed.
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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.
Related publications
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.