Spy Pre-Market Thoughts | Daily Commentary
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Happy Thursday!
Clock has been reset overnight. Starting a little lower than yesterdays open. Bulls still able to defend 321.6, which has been an important number for them. Could we have a repeat of yesterday, or a channel surf until the big earning tomorrow?
What is the market saying?
- 321.3-321.6 is an important range that the bears have tested twice this week. Bulls have saved the fall both times. Creating distance from here is what bulls would like to see.
1) Weekly Time Frame
- Medium small bullish candle forming this week. Inside last weeks wicks.
2) Daily Time Frame
- Set a higher high yesterday, Have a higher low set Tuesday. Closing above 321.17 is setting a technical higher low, But the higher the close, the more bullish than bearish.
3) Daily Indicator Standings
MACD: Above zero // Moving sideways from Tuesday
BB: Hit deviation line 15 July // Working Sidways to centerline
RSI: Set a low from Monday // 55.97 -> 60.3
KO: Signal line above 0 // Slow line above zero // Touching buy signal
OBV: Overall Uptrend // Pulling back to breakout at 9.922B
Resistance levels
(Pre-Market) 322.9
322.3
322.5
323
323.6
324
324.5
325 (pshychological)
325.3
327
Support levels
(Pre-Market) 321
322.1
321.5
320.95
320.75
320.2
320
319.75
319.3
Unfilled gaps
North side
327.23 - 333.48
South side
319.09 - 318.92
310.68 - 310.52
309.07 - 308.36
296.74 - 295.44
291.95 - 286.28
3) Side Thoughts
Vix gapped up overnight. Nothing too crazy. Relative to the overnight drop.
If this helps you like and follow the chart all day. Ill be giving updates as they show up! Getting feedback helps a lot. 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 Thursday!
Clock has been reset overnight. Starting a little lower than yesterdays open. Bulls still able to defend 321.6, which has been an important number for them. Could we have a repeat of yesterday, or a channel surf until the big earning tomorrow?
What is the market saying?
- 321.3-321.6 is an important range that the bears have tested twice this week. Bulls have saved the fall both times. Creating distance from here is what bulls would like to see.
1) Weekly Time Frame
- Medium small bullish candle forming this week. Inside last weeks wicks.
2) Daily Time Frame
- Set a higher high yesterday, Have a higher low set Tuesday. Closing above 321.17 is setting a technical higher low, But the higher the close, the more bullish than bearish.
3) Daily Indicator Standings
MACD: Above zero // Moving sideways from Tuesday
BB: Hit deviation line 15 July // Working Sidways to centerline
RSI: Set a low from Monday // 55.97 -> 60.3
KO: Signal line above 0 // Slow line above zero // Touching buy signal
OBV: Overall Uptrend // Pulling back to breakout at 9.922B
Resistance levels
(Pre-Market) 322.9
322.3
322.5
323
323.6
324
324.5
325 (pshychological)
325.3
327
Support levels
(Pre-Market) 321
322.1
321.5
320.95
320.75
320.2
320
319.75
319.3
Unfilled gaps
North side
327.23 - 333.48
South side
319.09 - 318.92
310.68 - 310.52
309.07 - 308.36
296.74 - 295.44
291.95 - 286.28
3) Side Thoughts
Vix gapped up overnight. Nothing too crazy. Relative to the overnight drop.
If this helps you like and follow the chart all day. Ill be giving updates as they show up! Getting feedback helps a lot. 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:
closing under 321 is not good on the 5m. If they keep a 15m under there, even worse.
