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πŸ•΅οΈβ€β™‚οΈ I SPY 5/20 Read πŸ”­πŸŽ―

5/19 Recap and 5/20 Outlook

SPY – Neutral

SPY SPOT GAMMA:

Gamma Index: Decreased to -0.18 ( look for rapid directional changes.)

Vol Trigger: Unchanged

Abs Gamma Strike: Decreased to 400 (may function as a β€œmagnet” and large liquidity area.)

Gamma Notional: Decreased to -804 (implies higher volatility in the underlying.)

Put Wall Support: Decreased to 405 (bullish indication.)

Call Wall Strike: Unchanged

Gamma Tilt: Decreased to 0.79 (bearish indication)

Net Delta: Decreased to 208,045 (decrease in net long hedge but still near highs)

25d risk reversal: Unchanged

Topp Abs Gamma Strikes: [415, 410, 405, 400]

https://preview.redd.it/jcsrhwx1t9071.png?width=2144&format=png&auto=webp&s=1d93f3e75107c8fe906cf0a0f40490f9eb8cb986

TA Notes: 15 min timeframe

  • Support at 20 SMMA
  • Resistance at 60, 120 SMMA, and gap fill
  • If 412 is filled – look at 414-415 resistance 🎯
  • If resistance breaks – look for πŸ‚ 🎯 416.81 – 417.55 – 419 – 420 – 420.53 ( I see us possibly topping at 416-417 if we can break resistance.)
  • Look for support at 410-408
  • Look for 🐻 🎯 at 406.48 – 405 – 404.68 – 403.36 – 400.54 – 400
  • We have strong support at 400.

https://preview.redd.it/a76cvdigw9071.png?width=2786&format=png&auto=webp&s=c5e02cc2a15457f02e79f8fcdeebcc2c8925aa1f

Thanks for reading and Godspeed Friends!

NightMan

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