Spy Pre-Market Thoughts | Daily Commentary

31 Ogo 2020

Looking for support and resistance lines?
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Happy Monday
Bullish is the trend. The trend is your friend...until it's not. Getting through 350 seemd to be too easy on Friday. I suspect there to play more play around this number. We will find out today...

Graveyard Shift / Morning Crew
Graveyard Shift: Crept higher after close. Hitting 351 to just rub it in bears faces.

Morning Crew: Looks like a bottle rocket got shot and hit a ceiling at 351.5. It's coming down fast with 350 in the crosshairs.

Futures Crew (/ES)
Bulls have been pushing to gas quite hard and theres a little sell off happening. looking to test at least 3500 ATM.

Resistance levels
(Pre-Market) 351.5
(See Shared Chart)

Support levels
(Pre-Market) 350.14
(See Shared Chart)

Gaps
341.06 - 339.71
331.18-330.06
327.73-326.63

Extras

Shared Chart
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
See below.

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31 Ogo 2020

Nota

350 is the important number right now.

if bulls hold the line, theyll want to get space from there near 351.5
if the line breaks,bears are looking for 349.7

31 Ogo 2020

Nota

so far 350 has been saved.
this is the confirmation candle.
closing above 350.35 will likely net a drive to 351.5

31 Ogo 2020

Nota

along the way, 350. 7 is going to a resistance.

31 Ogo 2020

Nota

time to have an oh poop plan.

349.9

close under that, then bears will have the ball for a few.

31 Ogo 2020

Nota

bulls are fighting to recap the premarket low. indication that theres enough bullish to go higher still.

31 Ogo 2020

Nota

bulls are working to establish some higher supports above 350.
so far 350.15ish is holding up well.
bears are test 350.3ish now.
slowly but surely bulls are gaining gound

31 Ogo 2020

Nota

getting above 350.66-70ish resistance and setting a support higher is the bulls first hump though

31 Ogo 2020

Nota

some big bear just came through and wiped that progress pretty quick.

bears need to cap 349.4 to drive lower. bulls need 349.9 to get back up.

31 Ogo 2020

Nota

time for testing under 350.

bulls are going to try and tap/push through.
if the bears continually reject them under 350.2 then preparing for anoth leg down is reasonable.

time is important here. if bulls really wanted to be above, we should see them cap 350 and hold it quickly.