Spy Pre-Market Thoughts | Daily Commentary
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Happy Tuesday!
Interesting Monday to start the week. Bulls trying to chop their way up to the psychological 330 number. Not much volatility overall though. $2 price range is suspicious. What's even more surprising is the resistance to fill the gap below @326.65ish. That's too close to leave it behind. Luckily we can see what night shift did...
Graveyard Shift
Afterhours worked to keep close above 329. All for naught this morning as the early bird crew spiked down. Coming down to 327.15 which is a stone throw from the gap. theres gonna be short coverings this morning, buy the dip crowd, and team crash and burn.
Resistance levels
(Pre-Market) 328.35
327.9 - 328
328.15
328.6
328.75
328.95 - 329.1
329.5-329.61
330
Support levels
(Pre-Market) 327.9
327.6
327.23
326.6
325.55
325
Extras
Shared Chart
www.tradingview.com/chart/oOetWWMH/
*This chart will be shared and 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!
Happy Tuesday!
Interesting Monday to start the week. Bulls trying to chop their way up to the psychological 330 number. Not much volatility overall though. $2 price range is suspicious. What's even more surprising is the resistance to fill the gap below @326.65ish. That's too close to leave it behind. Luckily we can see what night shift did...
Graveyard Shift
Afterhours worked to keep close above 329. All for naught this morning as the early bird crew spiked down. Coming down to 327.15 which is a stone throw from the gap. theres gonna be short coverings this morning, buy the dip crowd, and team crash and burn.
Resistance levels
(Pre-Market) 328.35
327.9 - 328
328.15
328.6
328.75
328.95 - 329.1
329.5-329.61
330
Support levels
(Pre-Market) 327.9
327.6
327.23
326.6
325.55
325
Extras
Shared Chart
www.tradingview.com/chart/oOetWWMH/
*This chart will be shared and 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:
opening inbetween the pre hi/lo.
who's gonna take the ball first.
who's gonna take the ball first.
Comment:
closing a 15 above the pre high. bulls want to run somewhere first. 328.6 is proving tough to break though.
Comment:
capping 328.6 for bulls will cause a gravitation to 329
but what if they dont?
pull back to 328.15 for a test. and if bears pull stronger than expected theyll want to hit the resistance line at 327.6
but what if they dont?
pull back to 328.15 for a test. and if bears pull stronger than expected theyll want to hit the resistance line at 327.6
Comment:
magical blue trend line at work again, just like yesterday.
time to test 328.6 it looks like.
time to test 328.6 it looks like.
Comment:
theres the test and bounce
Comment:
back up to no mans land. 329.6 is the area to break through. resistance in this region is no very well documented. definitely 330 and every .5 and .00 after that. gonna need market to tell whats really resistance though.
If they do get to it out of the gate, they'll only be coming up to the VWAP from below. either the opening bar, or next bar, they would have 326.6 at the bottom deviation line. so its not too crazy to hope that theyll come down and fill the gap.
but we will find out...