SPY: Technical Analysis for Today's Trading - Jan. 28
Market Overview
* SPY is currently consolidating near the $601 level after recovering from the recent dip to $589.
* Immediate resistance levels include $607 (pre-market high) and $610.78 (major resistance from the GEX).
* Key support levels are $600 (psychological level) and $589 (yesterday’s low).
* The 30-minute chart shows an overall upward trend within a tightening range, suggesting potential for breakout or breakdown depending on the broader market sentiment.
Gamma Exposure (GEX) Metrics
* Call Walls:
* $610: Highest positive NETGEX, indicating strong resistance and possible profit-taking zone.
* $615 - $620: Additional upside targets if momentum strengthens.
* Put Walls:
* $590: Highest negative NETGEX, acting as critical support. Breach below could trigger strong selling pressure.
Options Metrics
* IVR: 24.4, suggesting moderately low implied volatility, offering limited premium opportunities for scalpers.
* Put/Call Ratio: 69.3% PUTs, indicating bearish sentiment among options traders.
Scalping Strategy
Bullish Scenario
* Entry Point: Above $602 after confirmation of volume and momentum.
* Targets:
* First Target: $607 (PMH/Pre-Market High).
* Second Target: $610.78 (Key GEX resistance level).
* Stop-Loss: $600 (ensure a tight stop to minimize losses if momentum fails).
* Indicators to Watch:
* Stochastic RSI: Look for oversold reversal near the 50 level on the 30-minute chart.
* MACD: Ensure bullish crossover confirmation before entering long positions.
Bearish Scenario
* Entry Point: Below $600 with strong downside momentum.
* Targets:
* First Target: $595 (midpoint support).
* Second Target: $589 (previous low and major support).
* Stop-Loss: $602, as reclaiming this level would invalidate the bearish setup.
* Indicators to Watch:
* Volume spikes accompanying the breakdown of $600.
* MACD crossover below the signal line for confirmation.
Scalping Tips
1. Risk Management: Maintain a risk-to-reward ratio of at least 1:2 for all trades.
2. Execution Speed: Trade with tight spreads and monitor key levels closely for rapid changes in momentum.
3. Market Sentiment: Keep an eye on broader indices like QQQ and DIA for correlation and potential sector rotation cues.
Outlook for Today
* SPY's range is likely to remain between $600 (key support) and $607 (resistance) during the morning session.
* A breakout above $607 could push SPY toward $610.78, whereas a failure to hold $600 might trigger a retest of $589.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always trade with caution and manage risk appropriately.
* SPY is currently consolidating near the $601 level after recovering from the recent dip to $589.
* Immediate resistance levels include $607 (pre-market high) and $610.78 (major resistance from the GEX).
* Key support levels are $600 (psychological level) and $589 (yesterday’s low).
* The 30-minute chart shows an overall upward trend within a tightening range, suggesting potential for breakout or breakdown depending on the broader market sentiment.
Gamma Exposure (GEX) Metrics
* Call Walls:
* $610: Highest positive NETGEX, indicating strong resistance and possible profit-taking zone.
* $615 - $620: Additional upside targets if momentum strengthens.
* Put Walls:
* $590: Highest negative NETGEX, acting as critical support. Breach below could trigger strong selling pressure.
Options Metrics
* IVR: 24.4, suggesting moderately low implied volatility, offering limited premium opportunities for scalpers.
* Put/Call Ratio: 69.3% PUTs, indicating bearish sentiment among options traders.
Scalping Strategy
Bullish Scenario
* Entry Point: Above $602 after confirmation of volume and momentum.
* Targets:
* First Target: $607 (PMH/Pre-Market High).
* Second Target: $610.78 (Key GEX resistance level).
* Stop-Loss: $600 (ensure a tight stop to minimize losses if momentum fails).
* Indicators to Watch:
* Stochastic RSI: Look for oversold reversal near the 50 level on the 30-minute chart.
* MACD: Ensure bullish crossover confirmation before entering long positions.
Bearish Scenario
* Entry Point: Below $600 with strong downside momentum.
* Targets:
* First Target: $595 (midpoint support).
* Second Target: $589 (previous low and major support).
* Stop-Loss: $602, as reclaiming this level would invalidate the bearish setup.
* Indicators to Watch:
* Volume spikes accompanying the breakdown of $600.
* MACD crossover below the signal line for confirmation.
Scalping Tips
1. Risk Management: Maintain a risk-to-reward ratio of at least 1:2 for all trades.
2. Execution Speed: Trade with tight spreads and monitor key levels closely for rapid changes in momentum.
3. Market Sentiment: Keep an eye on broader indices like QQQ and DIA for correlation and potential sector rotation cues.
Outlook for Today
* SPY's range is likely to remain between $600 (key support) and $607 (resistance) during the morning session.
* A breakout above $607 could push SPY toward $610.78, whereas a failure to hold $600 might trigger a retest of $589.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always trade with caution and manage risk appropriately.
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。