πŸ•΅οΈβ€β™‚οΈ I SPY 5/27 Read πŸ”­πŸŽ―

SPY – Bullish – Neutral

Market Data

https://preview.redd.it/bvwe7vvrrn171.png?width=1914&format=png&auto=webp&s=2fc124fe19a473b7bce0ee0d33e1a27371aaa927

https://www.reuters.com/world/us/biden-offer-budget-proposal-may-28-2021-05-19/

U.S. President Joe Biden will unveil the first detailed budget proposal of his term in office on May 28, a day later than originally planned, the White House said on Wednesday. No reason was given for the delay.

Data provided by thesaucewalker

"Biden Budget proposal is v large (6$T), haven’t spent this much relative to GDP since WW2. News announced today and blueprint coming tomorrow. Could impact trading today and tomorrow"

WSJ

The Hill

SPY SG

Gamma Index :Increased to 0.05 (low volatility)

Vol Trigger: Unchanged

Abs Gamma Strike: Unchanged

Gamma Notional: Increased to $224 (A large positive gamma position infers lower volatility in the underlying.)

Put Wall Support: Unchanged

Call Wall Strike: Unchanged

Gamma Tilt: Increased to 1.07 (If the ratio increases it’s considered a bullish signal)

Net Delta: Decreased to 190,49 9 (positive delta position infers options market makers have a net long hedge.)

25d risk reversal: Increased to -0.07 (slight increase in put demand)

Topp Abs Gamma Strikes: [425, 420, 418, 415]

https://preview.redd.it/dztckgs0tn171.png?width=2390&format=png&auto=webp&s=e697a68c93e8841b535505fc82f1c894c33d5a59

TA Notes:

Yesterday's price 🎯 still hold for today.

  • If 420.73 breaks, look for bullish 🎯 : 422.43 – 423.81 – 425.15
  • If 417.25 breaks, look for bearish 🎯 : 416 – 415 – 414.13 – 412.74 – 411.26 – 410
  • Please not that if we push below 415 we could see downwards pressure to 405.

https://preview.redd.it/9hte2frctn171.png?width=3400&format=png&auto=webp&s=187b6db6bbab781f0d4904271226f5fe78665a81

SPY v VIX

  • Bulls need <19
  • Bears need >20

https://preview.redd.it/pff67xnstn171.png?width=2998&format=png&auto=webp&s=548892db8ad5a7ae36a42c2e183eaabe68b4ef87

15min RSI

  • Bulls need 63.40 – 70 – 77.53 – 87.99
  • Bears need 41.5 – 37.2 – 22.9 – 16.08

https://preview.redd.it/i23l02w0un171.png?width=3400&format=png&auto=webp&s=b4fba1803e6f28e78e2469e7b7b705eca8668bbf

From πŸ•΅οΈβ€β™‚οΈ I SPY 5/26 Recap and 5/27 Outlook πŸ”­πŸŽ―

https://preview.redd.it/cdgsbj6fun171.png?width=2374&format=png&auto=webp&s=80f33701d04821058fc40f0cf053bb57e1f96304

Thanks for reading!

NightMan

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