The Spyder and the Fly - SPY analysis
Updated
I have a few things to do here so just a quick update on spy. I do think a surprise rally higher than most expect is possible here, the 18ma on daily is the target for both bulls and bears in my opinion - bears want to see it hold, bulls want to see it surpassed. Triple witching is tomorrow so expect the unexpected and for me that's a substantial and surprising rally. Lower than 392 would be problematic but at the same time it could be a whipsaw to entice bears to short. As long as the structural trendline holds, I'm staying long with a light position. Good luck!
Note
IWM and DJT both outperforming today - usually a bullish signNote
structural trendline on SPY I'm watching. Note
lower than expected but could be a bear trap. 15minute bull divergences still in play. Note
trendline breakup on SPY, doesn't mean anything yet. 395 still a ways away. Note
we're over the support level which broke down and should have been resistance - that looks bullish. Note
Bulls want to see 392.5 hold, bears want to break it and end the day at the lows. 395.5 still the area to take out for bulls to continue the uptrend, otherwise it's just noise. Note
352.5 lost and although they rallied back to it they are not overtaking it. Looks currently like bears are going to sell it down into the lows at the close. I will stop out of the trade if so. Note
sorry, I mean 392.5Note
Double bottom support level. should be a reaction here, but it may crack overnight/tomorrow. Personally going to wait on the sidelines and see what tomorrow brings. Good luck! Note
NQ landed on a possible support target, we'll see if it means anything soon enough 
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