GEX Analysis for SPY - December 13, 2024

Dec 13, 2024

Current Price: $605.37
IVR: 8.1
IVx Average: 11.6
Options Sentiment: Bearish with 59.1% in Puts.

Key Levels:
Resistance:
* $608.00: CALL Resistance (Major resistance level).
* $609.00 - $610.00: 2nd CALL Wall, indicating a strong barrier.
Support:
* $605.00: HVL (1DTE Key level).
* $604.00: Highest Negative NETGEX / PUT Wall.
* $603.00 - $602.00: 2nd PUT Wall, highlighting downside targets.

Sentiment & Projection:
* SPY faces a challenging resistance at $608.00. A move above this level could target $610.00, but bearish sentiment remains dominant.
* Breaking below $605.00 could increase selling pressure toward $604.00 and $603.00.

Trading Strategies:
Bullish:
* Entry Above: $608.50 (Requires strong momentum).
* Target: $610.00.
* Stop Loss: $607.00.
Bearish:
* Entry Below: $605.00.
* Target: $604.00, $603.00.
* Stop Loss: $606.00.

Reminder:
Always monitor IVR and IVx for live updates to align with market conditions before executing trades.

Disclaimer: This analysis is for educational purposes only. Perform your own due diligence before trading.

Dec 13, 2024

Trade active

Trend Analysis: SPY shows a recovery after a downward move earlier in the session. It is currently testing resistance at the 604-605 zone, with potential upward movement if it breaks and holds above this level.

Key Levels:
Support: 603 and 600.
Resistance: 605 and 607.13 (200 EMA).

Indicators:
The MACD shows bullish crossover momentum, suggesting potential upward movement if volume sustains.
Price action suggests SPY could consolidate around the 604 level before a potential breakout or pullback.

End-of-Day Projection:

Bullish Scenario: If SPY breaks and holds above 605, it may target the 607 area.
Bearish Scenario: Failing to hold above 603 could push SPY back toward 600.

Monitor the price action closely, especially at resistance levels, for confirmation of the trend direction.