SPY Holding the Line at $590! Will We See a Bounce or More Downs

18 godzin temu

Technical Analysis for February 27, 2025:
1. Current Price Action:
* SPY is trading around $593, attempting to hold above $590 (key support level).
* A falling wedge pattern is forming, which could signal a reversal if SPY reclaims $595-$600.
* POC (Point of Control) at $594.43 is the key pivot area for direction.

2. Key Levels to Watch:
* Support: $590 (Critical level), $589.56 (Last line of defense), $580 (Major downside risk).
* Resistance: $595-$600 (Breakout level), $605 (Strong resistance).
* Upside Targets: $610, $615, $620.

3. Indicators Analysis:
* MACD: Bearish, but flattening, suggesting slowing downside momentum.
* Stoch RSI: Moving higher, indicating a potential short-term bounce.
* Volume Profile: Heavy liquidity between $590-$595, indicating strong accumulation or distribution.

GEX & Option Strategy for Tomorrow and the Week:

1. Gamma Exposure (GEX) Insights:
* Call Walls: $610, $620 → Resistance areas.
* Put Walls: $590, $580 → Key downside support.

2. IV & Sentiment:
* IVR: 30.8 (Low)
* IVx Avg: 22.7 (Very low volatility, favoring breakouts).
* Put Positioning: 102.9% bearish sentiment.
* GEX Sentiment: Very bearish—needs $595+ to shift sentiment.

3. Trading Suggestions:
* Bullish Setup: If SPY reclaims $595-$600, consider long positions targeting $605-$610, with a stop at $590.
* Bearish Setup: If SPY fails to hold $590, short setups targeting $585-$580, stop at $595.
* Options Play: Selling put spreads at $590 or call spreads near $610 resistance.

📌 My Thoughts & Suggestion:
* SPY is sitting at a critical support zone ($590-$593)—holding here could trigger a bounce toward $600-$605.
* A break below $590 could lead to accelerated selling toward $580.
* Low volatility suggests a breakout move is coming, making long options attractive.

⚠️ Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk before trading. 🚀

8 godzin temu

Zlecenie aktywne

🚨 SPY Quick Update – February 27, 2025 (Pre-Market) 🚨

* Current Price: $596.84
* Support Levels: $595.06, $594.24
* Resistance Levels: $597.50, $598.25 (VAH), $600

Market Behavior:
* SPY bounced off $595.06 and is now retesting resistance near $597.50.
* Volume Profile shows heavy liquidity around $598, which is the key resistance for a breakout.
* Stoch RSI is overbought, indicating a possible stall or pullback.
* MACD is turning positive, suggesting some bullish momentum.

Game Plan:
* Bullish Bias: Needs to clear $598.25 for a move toward $600+.
* Bearish Rejection: If $598 holds as resistance, expect a retest of $595-$594.

🎯 Watch the reaction at $598-$600 for direction confirmation! 🚀