SPY Daily Commentary | S/R

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Happy Friday!
Mission completed for the bull crew! Congrats if you were bullish. Where to now? 335 is first. Then the SPY high of 339.08. It's still bullish on indicators and There's a long term uptrend line to keep it running (bottom blue dashed line) Gonna be exciting to see what happens today. We seem overextended but who's counting. Could just keep going up or crash and burn. It is a friday, so its usually more likely to float.

Graveyard Shift
Nothing of note with the cleanup crew. The morning shift has decided to profit take before the market opens. It's closer to the low than the high, which is an indicator of the first direction. Bulls will want to defend the breakout area around 332.5 to prevent a collapse.

Futures Crew (/ES)
Testing the breakout at 3328. Still holding a bullish flag and theyll want to start closing above 3335 and work an hour close above 3340 to have a nicer flag.

Resistance levels
(Pre-Market) 334.61
333.65
334.1
334.5-6
335

Support levels
(Pre-Market) 332.8
332.5
332.3
332
331.65
331.3
331.14

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

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Comment:

tight range.

bulls want to get above 332.65
closing above will gravitate towards the premarket high

Comment:

little pullback to test the open. nice little bounce

Comment:

typo on 332.65. it shouldve been 333.65 >.<

Comment:

test of 334.10 now

Comment:

looking for pushback at 334.61

Comment:

334.5 is gonna be a little speed bump first though

Comment:

testing breakout zone of 333.85 ish

if bulls bounce it up, theyll chop shop it back up

bears will want to close a candle or two under 333.75 to get lower.

Comment:

334.25 is a little bullish breakout area.

i would have more confidence in bulls if they managed to close above this.

bullish flag collapse still under 333.75

Comment:

bulls missed 334.25

bears capped 333.75

down it goes

Comment:

bulls will try and test 333.75

if they fall short or dont cap above bears come out and play.

Comment:

bulls need to hold 333.5 to have something to go with.

under this bears will try and hit pre market support at 332.8

Comment:

finally made it under the pre market. took a while

looks like volume is growing quiet a bit. especially for this time

smart money must be moving in...