Looking for support and resistance lines?
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Happy Thursday!
Had another Gap n' Go from the bull crew yesterday. They're trying to get somewhere, and fast. Got .20c on the top gap to fill. If they wanted, they could bust through and keep going. But leaving two gap windows below is unusual, and begs getting filled. Looking back at the last island that was made, it's noticable that preceeding the large pullback, they were unable to set new highs. They filled the window below, but couldnt set a new high. So if history repeats itself we can look for a similar pattern.
1) Head down to visit 330.06 and fill the gap
2) Try to crawl back up and set a new high over 332.4
3) Get met with a large rejection closing above prior days open.
4) Gap up to try and set a new high
5) Close below the close of first island candle (328.79)
Graveyard Shift
Nothing of note with the cleanup crew. The morning shift has done some work though. 331.65 is an important area and held support yesterday. Looks poised to open under today. If thats the case, then it should be a first area of resistance.
Futures Crew (/ES)
Well, 3300 was the breakout area and needed to be filled. Which was conveniently done by the morning shift. So it makes it a little tougher to happen in the SPY. 3320 & 3322 are the resistance lines for the bulls though and has proved difficult.
Resistance levels
(Pre-Market) 331.83
331.65
331.9-332
332.1
332.4
332.6
332.7
333
Support levels
(Pre-Market) 330.21
331.3
331.2 ish
330.6
330.05
329.7
329.5
329.1
Extras
Shared Chart
www.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
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!
Had another Gap n' Go from the bull crew yesterday. They're trying to get somewhere, and fast. Got .20c on the top gap to fill. If they wanted, they could bust through and keep going. But leaving two gap windows below is unusual, and begs getting filled. Looking back at the last island that was made, it's noticable that preceeding the large pullback, they were unable to set new highs. They filled the window below, but couldnt set a new high. So if history repeats itself we can look for a similar pattern.
1) Head down to visit 330.06 and fill the gap
2) Try to crawl back up and set a new high over 332.4
3) Get met with a large rejection closing above prior days open.
4) Gap up to try and set a new high
5) Close below the close of first island candle (328.79)
Graveyard Shift
Nothing of note with the cleanup crew. The morning shift has done some work though. 331.65 is an important area and held support yesterday. Looks poised to open under today. If thats the case, then it should be a first area of resistance.
Futures Crew (/ES)
Well, 3300 was the breakout area and needed to be filled. Which was conveniently done by the morning shift. So it makes it a little tougher to happen in the SPY. 3320 & 3322 are the resistance lines for the bulls though and has proved difficult.
Resistance levels
(Pre-Market) 331.83
331.65
331.9-332
332.1
332.4
332.6
332.7
333
Support levels
(Pre-Market) 330.21
331.3
331.2 ish
330.6
330.05
329.7
329.5
329.1
Extras
Shared Chart
www.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
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!
Comment:
as always, premarket high is the 1st resistance to break and hold above.
Comment:
Tight range like yesterday. Taking some time to get the market on board to do something.
up is the sign at the moment.
up is the sign at the moment.
Comment:
staying above 332 is what the bulls want to fill the remaining .20c gap up top.
Comment:
1c short on the fill so far. could be good enough. lets see
Comment:
okay, so gap has now been filled. they went to go touch the bottom gap. and have had a bounce up. Bears are gonna want to test it again.
Comment:
There isnt anything stopping going higher. but if that was the goal, than its been reached and now its anyones guess of where theyd like to take it north of that.
If anything, the only next logical spot is a new 2020 high.
If anything, the only next logical spot is a new 2020 high.
Comment:
got the retest of said gap.
2 important numbers to stay above now for bulls.
331.65 and 331.9
below its the bears ball
2 important numbers to stay above now for bulls.
331.65 and 331.9
below its the bears ball
Comment:
so bulls closed and took it up.
332.3 is the next block for bulls.
332.3 is the next block for bulls.
Comment:
working on 332.5 now. after this is the high at 332.65
Comment:
spy follow s/r lines almost to the T today.
bulls in control until they're not!
bulls in control until they're not!
