Spy Pre-Market Thoughts | Daily Commentary

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Happy Monday!
Unfortunately all my old drawings disappeared, so I'm starting with a fresh slate. This is okay though since the market is in gap land and there's really no prior levels to refer to.

Graveyard Shift

- Market Gapped up and the bulls are deep in no mans land. If they plan on saving the market from a rug pull, it'll be a mostly sideways day.

Resistance levels
(Pre-Market) 328.65ish
328.95 - 329.05
330

Support levels
(Pre-Market) 327.9
327.6
327.23
326.6
325.55
325

Extras
Shared Chart
https://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 related chart below*

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Comment:

pre market s/r are the important levels first. opening in the middle gives the idea of uncertainty with price.

whichever side takes the ball, we can expect a run to the next s/r level

Comment:

bears will want to come gap fill at 326.55 ish. we could hope a trip there first.

Comment:

working under the premarket support now. normally, theyll come to at least 326.6 then bounce up. lets see

Comment:

Well that was a stop out for now. the P/C ratio was pretty high for puts at that level. Bulls decided to trap some bears instead.

Comment:

resistance was gonna be around 329.3. came up short 2 cents >.<

Comment:

checking out the grey dashed line. This was a channel top i mentioned in the weekly thoughts chart. Its acting as resistance ATM which is reassuring of its importance overall.

Comment:

continuing to close above 328.62, pressing up on 329.1 will give a bullish flag that should reproduce another touch of 329.3

Comment:

starting to close under 328.55, it should be pivot time. with bears trying to get near the low of the day 327.75. hopefuly theyll work back to the gap below.

Comment:

It is super light volume today. any large throws of shares one way or the other would have a drastic impact right now. hopefully AI chop shop keeps flux light and institutions come in later for a move.

Comment:

328.9 is important and has been added as a S/R

had 328.95 but will move it down 5c

Comment:

back down to pre market support. should get a pullback up to 328.4ish before going back down.

Comment:

didnt go down very long. hit the .4 and dropped to .25 before taking off

bulls dont want to bear near or under the premarket low.

indicative of bullish nature. may not get the gap fill today unless we get bigger bears later on.