SPY 5/20 Recap
- Filled gap convincely.
- Hit resistance 🎯 but not bullish 🎯s. Reached high of 416.63 or 0.18 from first bullish pt from this mornings read.
- Spiked @ 86 ish on RSI and ended the day @ 52 ish (Bullish). 15 min. timeframe.
15 min. RSI
W-shape with today's price action.
- For the w-shape to hold true we need to push over 418.
5/21 Outlook – Bullish – Neutral
- Bulls need to fill the gap on the 1D timeframe. Gap fill is at 416.72 – 418
- If Bulls find support at 418 then I believe that we hit the call wall at 419-420 – 420.53
- Best case for bulls is that we gap above and test new support @ 418.
- Bears need to protect gap. If gap is tested and resistance holds look for 415 – 414 – 412 (gap fill) – 410. I don't think we see below 410 but we shall see.
- RSI at 53ish (>50 = bullish)
SPY SPOT GAMMA – Tomorrow's data is incomplete.
Look for 5/21 SPY read post tomorrow morning before open.
Thanks for reading!
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