SPY Daily Commentary | S/R

已更新

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Happy Wednesday!
Bears worked down into the gap. Didn't get the complete fill, but it's coming. Market makers enjoy creating these gaps and floating around before dropping again. Starting to become a little too noticable.

Anyways, bulls broke out of a downtrend and set their high. Yesterday looked to be the start of us going to retest the breakout area. Number is around 328.75ish.

Intraday will give more details regarding todays move.

Graveyard Shift / Morning Crew
Graveyard Shift: nothing special

Morning Crew: gapped down more into the gap. Buyers showed up to get above yesterdays close.

Futures Crew (/ES)
After the monday rocket, things are trying to retrace back to the breakout. consolidate & pullback is the pattern right now. Similar to yestreday, so no change in the numbers right now.

Two big numbers today:
For Bulls: 3365
For Bears: 3320

Resistance levels
(Pre-Market) 333.5
(See Shared Chart)

Support levels
(Pre-Market) 331.05
(See Shared Chart)

Gaps
356.37 - 357.48
337.7-338.52

Extras
On the live chart, I typically run 5's and 15's. Because these are more intraday important, I'll be updating them as they come up. Be sure to check the live is you want more immediate results.

Re-evaluating the chart layout and have decided for simplicity and cleanliness. Important lines are in this presidence:
Black Solid Bold (Weekly S/R)
Gold Solid (Daily S/R)
Dashed Black (Hourly S/R)
Blue Line (Target S/R)
Pink Line (Gap Target)

Shared Chart
tradingview.com/chart/oOetWWMH/

Weekly Projection
None this week.

If this helps you, like the chart and feel free to follow me. I freely offer intraday SPY commentary. 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!

註釋

bulls coming out strong this morning. lets see who's left after the buy the dip and short covering teams are done.

註釋

bulls will want to hold the pre high to blast off again. the close from yesterday has created a small gap and the bears would try to visit if bulls give up too much ground to the pre high

註釋

bulls getting close to the weekly s/r
expect some fighting and bears to show up

註釋

depending on how bullish they are today, theres a break out around 334.25ish
there could be another opportunity in this price range, just have to see what the bulls are willing to give up.

註釋

bulls are holding the weekly, next stop is the golden line.

註釋

bulls working the golden line. There is a gap near here that could be alluring to fill.
if the bulls prove the can hold a retest of 336.65ish, theyll want to line up for the gap

註釋

pretty violent 2 o clock drop going on.
bulls losing the weekly s/r wont be good