SPY Daily Commentary | S/R

Looking for support and resistance lines?
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Happy Monday!
Not much history to prep with today. Got some lines up. Will add more in commentary as they develop.

Graveyard Shift
Nothing of note with the cleanup crew. The morning shift tapping on the 335 door. Let's see if the day crew can hold it up.

Futures Crew (/ES)
Getting pushback at the 3355 level. Maintain price above 3347 makes a nice bull falg to run up with.

Resistance levels
(Pre-Market) 335.04
335
335.26
335.5
335.9
336.26
336.55

Support levels
(Pre-Market) 334.65
334.4
334.17
333.53
332.92
332.3

Extras
Shared Chart
www.tradingview.com/chart/oOetWWMH/

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Weekly Projection

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Комментарий:

Bulls need to stay above 335.04 at least to get higher. current resistance is going to be 335.25ish

Комментарий:

waiting to see where the market want to go before making any moves.

Комментарий:

as a given, but price ending in .50, .90 and .00 are going to be pushy areas.

335.50 is the current block for bulls

Комментарий:

P/C ratio influxed nice. Lots of calls being purchased right now.

its either a safe bet or a big mistake...

Комментарий:

335-334.88 is a new gap window. they will probably want to go fill it.

Комментарий:

334.76** is the bottom of the window.

Комментарий:

below 335, bears will run with the ball. above 335.25ish its bulls ball.

inbetween is anyones game.

Комментарий:

high is 335.58 so far.

Комментарий:

expecting a touch and bounce at 334.75 ish

Комментарий:

not a large bounce off all important 335.

bears will push it down

Комментарий:

thinking 334.4 is a better place to pivot for the low. just to spook people.

but the pre market support could be the spot too

Комментарий:

gap window filled.

bull need to close above it to get back through 335

Комментарий:

then its time to retest 335.6ish

Комментарий:

up they go

Комментарий:

probably another pushback at 335.25ish

Комментарий:

push to 335.05 ish likely

Комментарий:

hmmm now what...

if the start closing above 335.5, theyll push to get above 335.6. im guessing 335.9 is gonna be the next major area of resistance.

any closes under 5min 335.04 spoils that plan.
closing a 15m under 335 will introduce a next script to the play.

Комментарий:

another test of the 335.15 price.

Комментарий:

futures are really battling it out at this number. indecision doji galore.

Комментарий:

still testing 335.25 area.

killing time to make a push up more than likely.

Комментарий:

adding 335.15 as an important S/R

lots of movement here.

Комментарий:

elevating 335.25 to 335.32

Комментарий:

such light volume at the moment. any big fish that make a splash will cause quite the wave.

Комментарий:

bears back to try and test the low.

probably want to punch this pre market level and hit 334.4

Комментарий:

cut through that and 334.

333.5 should hold as a pivot. but if it doesnt, then bears have another destination in mind

Комментарий:

333.15 was the destination.

time for pull back.

334.10 ish

Комментарий:

found the low, 332.96

Комментарий:

bulls creeping up.

decreasing volume.

not reassuring that they want to go up today.

Комментарий:

i thought 334.4 was an important number, just called it too early.

it was the support on the hourly and is still holding up well

theres a downtrend line forming right now on this number and there will be a break one way on another.

if they dont break up, bears will want to drive down to the 333.5 area again.

got the cross at 334 around 1440ish

Комментарий:

break was up. back to where we were this morning.