8/21 SPY ATR and LevelsATR For SPY is now creeping up to 7.42, nice and juicey range. Fear and Greed on the lower end of Neutral at 45. Jackhole minutes and pending discussion on rate cuts are being spread around like MPOX, .50 or .25, will there be one at all?
Geopolitical atmosphere is hearing up, Xi is in Moscow.
Putin is Puntin and Star Wars Outlaws gets released next week.
Observing 2 gaps on the downside that is a hole that needs filled everntually, if we dont get the news the market is expecting we could visit 548-544 to fill and even further below at 536-533 thas a crazy range, and not thinking it will happen anytime soon, but we got those there. however we did hit a low of 530 LAST WEEK.
For the ranges above the 559.84 8:45 am Close range I have
SCALP
SR2 562.73 (this is a level of interest)
If we can get 1 hour of volume to exceed 4.5 million, I think we go higher into Standard pop level (563.55)
SR1 561.77 (this is a level of interest)
I see we need volume over 6.1 million on the 1 hour to go into SR2 of the scalp
SPOP 560.80 (1 hour average volume I se is above 3.5 million)
R2 569.49
R1 565.78
POP 563.55
If we cant get to or exceed those volumes on the 1 hour range, the below scalp levels from the 8:45 range are:
SBREAK 558.88 (1 hour 5.2million to push past, I think if we hit this price level and not exceeding 5.2 million on the 1 hour we could see SS1)
SS1 557.91 (1 hour 4.3million to push back to SBREAK, I think if we hit this price level and not exceeding 4.3million on the 1 hour we could see SS2)
SS2 556.95 (1 hour 4.9million to push past, I think if we hit this price level and not exceeding 4.9million on the 1 hour we could see the Standard levels)
BREAK 556.17
(1 hour 4.9 million)
S1 553.24
(1 hour 6.9m)
S2 551.28
(1 hour 6.4m)
