SPY last 4 days look very similar to March 18-23 candles, so we could see possibly a similar movement next two days. It puts us at a HIGH print of 302.46 or above on Friday May 15th, which somehow also closes the gap from March 5-6th. The close on Friday would also be lower so somewhere near 298-300 (near Daily 100ma/200ma). Nothing is impossible, but this would be scary if it comes true.Nota
Only a small +1.22% move on SPY today with a close of 285.04 (Daily 20ma is 285.08, 0.04 cents off)Expecting 286-288 level to be tested after hours.
For OPEX Friday, looking at a range of 272-296 in my opinion, so max of 4% each side. Looking for a close around 288.17 for the weekly 100m if we happen to go past 288 tomorrow for the high.
It is not so likely that we hit 300 or 302 tomorrow, but next week the MACD on weekly is looking to cross, so if it does we could see 302 next week sometime.
Overall still looking bearish till end of June.
Nota
Basically OPEX cleaned out all the puts again.Overall we are back to playing within the 275-295 range.
Bullish target next week 300/302, Bearish target 275/272.
Penafian
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.