08/02 SPY ATR Levels and Range
There are my lines for the day, yesterday totally blew the levels out of the water, the ATR on the SPY is holding steady, but high due to the downside drips and falls we have been getting. Papa Powell has taken all need for us to go any higher off the table until mid August, my opinion. So anything that happens today in the way of upside could be associated to a new month, new positions being opened and that we are on FAFO Friday with the 0DTE Degen option buyers.... I suspect we are not out of the bleeding yet. Fear&Greed is lower at a 33 midway to falling into Extreme fear. The Geo political and domestic world is on fire, Trump cant keep himself from saying stupid comments and Harris still hasnt gotten her footing yet (my opinion)
For SCALP I am looking for quick moves through the SPOP to SR1 maybe see SR2 and breach into the STANDARD ranges at open and then quickly recced past the lower ranges past SBREAK into the S1 and S2 of the STANDARD levels.
SR2 536.90
SR1 536.16
SPOP 535.43
LAST PRICE 534.69
SBREAK 533.95
SS1 533.22
SS2 532.48
R2 542.05
R1 539.22
POP 537.52
BREAK 531.89
S1 529.65
S2 528.16
For SCALP I am looking for quick moves through the SPOP to SR1 maybe see SR2 and breach into the STANDARD ranges at open and then quickly recced past the lower ranges past SBREAK into the S1 and S2 of the STANDARD levels.
SR2 536.90
SR1 536.16
SPOP 535.43
LAST PRICE 534.69
SBREAK 533.95
SS1 533.22
SS2 532.48
R2 542.05
R1 539.22
POP 537.52
BREAK 531.89
S1 529.65
S2 528.16
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.