SPY Stuck at Gamma Ceiling!

Will Bulls Break 619 or Get Rejected Again? 🎯

🔍 GEX Option Flow Outlook
SPY is grinding right under the heavy call wall at 619, which aligns with the highest NET GEX resistance zone. The flow is dominated by calls, and GEX is flashing 4 green dots, meaning dealer hedging could drive price higher if 619 breaks cleanly.
* GEX Resistance Wall:
* 🔹 $619–$620 = stacked resistance (Call Wall + GEX7 + GEX8 + GEX9)
* 🚫 Historically acts like a magnet & rejection zone
* GEX Support Wall:
* 🔸 $614 = HVL support (strong bounce zone for 0DTE plays)
* 🔻 $610–$608 = Put Wall danger zone
💡 Based on the current GEX map, if bulls can break above 619 with volume, the path to 623 opens. But failure to do so likely triggers a pullback to 614.

🧠 Smart Money Price Action (1H Chart)

SPY remains in a bullish rising channel, printing higher lows. However, price is stuck inside a CHoCH zone (consolidation under resistance) right under the 619 level.
* BOS from June 27 confirms structure shift
* CHoCH zone holding short-term price action
* 📦 Demand zone: 615–614 → where bulls stepped in before
* Volume dropping = market waiting for catalyst

🎯 Trade Setups:
📈 Bullish Breakout Plan:
* Trigger: Above 619.50 with momentum
* Target: 621 → 623
* Stop: Below 617.50
* Trade Idea: Buy 620C or 622C (0DTE/1DTE) for a quick breakout scalp
📉 Bearish Rejection Plan:
* Trigger: Rejection below 619 with spike in volume
* Target: 614 → 610
* Stop: Above 620
* Trade Idea: Buy 615P or 612P (1–2 DTE) on failed breakout

🧠 My Take:
SPY is at a critical pressure point. If dealers are forced to hedge more delta due to call buying, we could see a breakout. But the Gamma Wall at 619 is real — bulls must break it with force or risk another fade.

Disclaimer: This is not financial advice. For educational purposes only. Always manage your risk. 🎯