SPDR S&P 500 ETF TRUST forum
SPY expecting a drop to 576 on Monday or Tuesday similar to what we saw on Oct 31. Oct 31st was a perfect 1.618 fib extension drop and expecting this drop to fall right on the 1.618 as well.
DXY Bessent, the new US Treasury Secretary appointed by Trump, has advised Trump on a "3-3-3 policy," which the Journal described as "cutting the budget deficit to 3% of gross domestic product by 2028, spurring GDP growth of 3% through deregulation, and producing an additional 3 million barrels of oil or its equivalent a day."
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SPY bulls and bears got paid there was a lot of volatility and crazy candle movements which was good for contracts. Bulls are slowly inching to 598 and 600 but I see two huge sell walls at those resistance levels. I’ll be extra careful but that 4 hour looks good for another push if we can get above 596 if not most likely there will be another huge sell order. Being cautious as we get to the 4hr it could be a lower high I’m waiting to see how much momentum sellers have to see if they can push it down or not. 598 is still my target. No volume today so it was a slow choppy range day have a good weekend :) see ya soon
SPY Absolutely painful resistances at 596... UGH.
SPY Also if you plan on 0DTE calls or puts. I would wait till 10:30 to jump into a trade.SPY personal opinion upcoming week price range $591-$608. Im bullish unless $600 isnt reached or pasted by EOD Tuesday. Want to hear other opinions.
SPY and it so begins..Walmart has officially confirmed my theory of what’s the come next year if Trump does impose his tariffs. The pressure of the trade war will unfortunately affect consumers no matter what in different sectors. This will lead to the stock market halting any progression higher eventually.
SPY why no squeeze tho? We are bullish and OI is kinda high I was expecting we go above 596
SPY Anyway next week I'm gone from here. PM if you wanna talk. otherwise this is my last post here. got things to do. Time to get serious. Jesse sent me a message. He said 'time to put the foot on the gas, Ayesha. Its time'.
SPY crazy closed just above the top of the pennant but futures still trying to 6k.