SPY Technical Analysis - Jun 16⏱️ 1‑Hour Chart Overview
Key Zones
* Support: $597–$601 — built on put-gamma support
* Resistance: $605–$607 — topped by call-gamma walls
Bias: Cautiously bullish — awaiting confirmation above $600–601
Trade Idea:
* Structure: Bull call spread (600/605 strikes)
* Targets:
* T1: $605 (initial gamma cap)
* T2: $607 (upper gamma wall)
* Invalidation: Break decisively below $595
Management:
* Entry: Buy near $600–601 with bullish candle and supportive volume
* Scaling: Start small and layer in if price holds
* Exit:
* Take partial profits at $605
* Trail to $607
* Exit if SPY drops below $595
Why It Works: Gamma flows from option expiries tend to provide momentum near the spread’s strikes, and the debit structure defines both risk and reward.
⏳ 15‑Minute Chart (Intraday Entry)
Setup Window: Zooming in for precise entry within 1‑hour framework
What to Observe
1. Pullback to $600–601
* Look for a bullish reversal candle (hammer, engulfing) on 15‑m
* Ideally, with increasing volume
2. Confirmation Signal
* Break above the high of that reversal candle
* Volume support confirms genuine demand
3. Momentum Alignment
* Pair with an intraday oscillator (e.g., Muscle mover, RSI rising)
* Candles should show higher lows or extended wick above support
15‑Minute Trade Rules
* Entry: Market or limit buy on a 15‑m candle closing above reversal high (~$601)
* Stop: Under that candle’s low (e.g., ~$599.50)
* Profit Scaling:
* Partial de‑risk at ~$605
* Full exit planned at ~$607
🚦 Multi‑Timeframe Strategy Summary
1‑Hour: Macro bias and strike framework
15‑Min: Precision entry zone & risk control
Spread Trade: Leverages GEX structure for momentum capture
Risk Defined: Debit known, stops clear
Upside Potential: Push toward gamma-neutralizing walls
Flow Edge: Option hedging dynamics predominantly active around spread levels
🧠 Watchlist
* Price behavior near $600–601 on 15‑m
* Volume surge with bullish candle
* Macro drivers: Fed noise, SPX futures action, sector rotation
* Shifts in implied volatility that may affect spread pricing
Trade with discipline — defined risk, entry precision, steady management.
Disclaimer: Not financial advice. All trading involves risk; do your own due diligence.
