SPY Daily Commentary | S/R
Updated
Looking for support and resistance lines?
Like the idea and follow me for intraday SPY commentary!
Happy Thursday!
Wow! Hump day was definitely a a show stopper for the bulls. Today is a follow thru for the bears if this reversal is serious. We'll see it live in the hourly chart.
Graveyard Shift / Morning Crew
Graveyard Shift: Kept the float going into the close. Nothing to see here
Morning Crew: Killing it downward. Either early shorts for a squeeze or a serious consideration of reversal for today.
Futures Crew (/ES)
Found a little bounce around 3350 but the bulls need to get and stay above 3365 to have any teammates come boost the market back up. Bears are looking to 3330 as the next target.
Resistance levels
(Pre-Market) 336.83
(See Shared Chart)
Support levels
(Pre-Market) 335.31
(See Shared Chart)
Gaps
331.18-330.06
327.73-326.63
Extras
Been pretty busy moving the last week so i haven't been able to post consistently. Should be back on a normal schedule now.
Shared Chart
tradingview.com/chart/oOetWWMH/
*This chart will be shared and updated all day. Come to this idea to get commentary all day for intraday playing. If you would like to know my thoughts for this week, see the chart below*
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 Thursday!
Wow! Hump day was definitely a a show stopper for the bulls. Today is a follow thru for the bears if this reversal is serious. We'll see it live in the hourly chart.
Graveyard Shift / Morning Crew
Graveyard Shift: Kept the float going into the close. Nothing to see here
Morning Crew: Killing it downward. Either early shorts for a squeeze or a serious consideration of reversal for today.
Futures Crew (/ES)
Found a little bounce around 3350 but the bulls need to get and stay above 3365 to have any teammates come boost the market back up. Bears are looking to 3330 as the next target.
Resistance levels
(Pre-Market) 336.83
(See Shared Chart)
Support levels
(Pre-Market) 335.31
(See Shared Chart)
Gaps
331.18-330.06
327.73-326.63
Extras
Been pretty busy moving the last week so i haven't been able to post consistently. Should be back on a normal schedule now.
Shared Chart
tradingview.com/chart/oOetWWMH/
*This chart will be shared and updated all day. Come to this idea to get commentary all day for intraday playing. If you would like to know my thoughts for this week, see the chart below*
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
out of the gate. got some coverings happening. more so important though, is the gap window pirce target at the moment 336.6
once the gap is filled we will see where the market wants to go.
Note
bulls arent feeling comfortable closing the gap yet.336.25ish is a resistance area and bulls need to get above and close a canlde to get the rest of the window.
conveniently, the gap is close to pre market resistance. which leads to more bearish in nature. it wouldnt be unjustified to expect a pivot near this region
Note
bulls taking off from the pre low is bullish behavior. thinking that the purpose is to quickly close the gap however.Note
p/c ratio around 3 at the moment. Got some early anticipators.Note
from a bear flag position, a pull back up to 337.5 would be around 50% and that would be reasonable. But if the bulls start closing 15m candles above that, is would leave bullish more on the table than bearish.Note
hitting gap window now.Note
coming short maybe over 2-3, 5min bars of the pre high should get the pivot down going. pullback to around 335.9ish. if bulls close above the pre high, 337 & 337.85ish are going to be tempting targets.
Note
up over 337. bears testing the bulls at 337. Really light volume again today. most of the market is leaning low today. Spy is getting love from the big 5 stocks right now.Note
little resistance near yesterdays close. after the hour whats happening? there's a nice large green candle. gives lots of safety space for the bulls at this point.
338.65ish where bulls want to get above before end of day. this is a support and resistance line for the daily and will be a resistance point coming back up again.
at this point right now, nearing the halfway pullback from a bear flag. its almost noon, and we still havent had any test near the pre low.
Note
float mode so far. bulls feeling a little pressure at the top of the breakdown candle (337.85ish)
worth noting that the bears have yet to get under the prehigh. shows bulls have been keeping guard of this region.
bear showtime seems to be somewhere between 2-3 normally.
would be wise to be watchful around then.
Note
bulls are making a push. expect a test of 337.8ish
Note
337.85ish held. bulls looking to keep and gain ground. next important target is 338.65 as mentioned earlier in the morning.
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.