⚠️ Technical Analysis (TA) – Intraday View
Current Price: ~$567.56
* SPY recently experienced a CHoCH followed by BOS, but now formed a new CHoCH → bearish shift in structure.
* Price is testing a minor demand zone between 566–567, holding just above the larger support base at 560–555.
* Volume increased on recent sell candles, showing seller control — but Stoch RSI signals nearing exhaustion.
Indicators:
* MACD: Bearish crossover – but histogram showing potential slowing of momentum.
* Stoch RSI: Deeply oversold and starting to turn up – signals possible bounce/retracement coming.
🔐 Key Levels
Support Zones:
* 566–567 → Short-term demand / micro CHoCH
* 560 → Highest negative GEX zone – PUT support
* 555–550 → Strong liquidity zone & 2nd PUT Wall
Resistance Zones:
* 572.5 → HVL zone and broken structure
* 580 → Gamma wall zone, strong CALL resistance
* 590–600 → Extended resistance levels for swings
🧠 GEX & Options Flow Analysis (TanukiTrade Pro)
* GEX Sentiment: 🔴🔵🔴 — Bearish skew, with a weak neutral pocket
* IVR: 26.4 → Volatility low, but near option seller zone
* IVx avg: 20.7
* PUT$%: 53.8% — Strong bearish hedging flow
* CALL Resistance: 580 → gamma ceiling
* PUT Wall:
* 560 → Highest negative NetGEX (dealer support)
* 555 & 550 → backup defense zones
* HVL: 572.5 → key flip level
📌 Current setup shows dealers are heavily short gamma below 572.5, causing negative delta pressure.
🛠️ Trade Setups
📈 Bullish Setup – Bounce from 566–567
* If SPY holds and reclaims 570 with strong bid, a move toward HVL possible
* Entry: Break and hold above 570
* Target 1: 572.5
* Target 2: 578
* Stop-Loss: Below 565
* Options Play:
* Buy Apr 3 $575 Calls
* OR Call Debit Spread: Buy $570 / Sell $580
📉 Bearish Setup – Breakdown Below 565
* Confirmed lower high and break of demand → opens trapdoor
* Entry: Below 565 with momentum
* Target 1: 560
* Target 2: 555
* Target 3: 550
* Stop-Loss: Above 570
* Options Play:
* Buy Apr 3 $560 Puts
* OR Put Spread: Buy $565 / Sell $555
🧭 Final Outlook
* Bias: Bearish → unless 572.5 HVL is reclaimed.
* SPY is caught between strong PUT support at 560 and heavy gamma ceiling at 580.
* If market sentiment worsens or macro triggers hit, 555 is the magnet zone.
* If buyers step in and hold 566+, bounce setups are likely — but it must reclaim HVL for any strength.
📛 Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Please manage your risk accordingly.
Current Price: ~$567.56
* SPY recently experienced a CHoCH followed by BOS, but now formed a new CHoCH → bearish shift in structure.
* Price is testing a minor demand zone between 566–567, holding just above the larger support base at 560–555.
* Volume increased on recent sell candles, showing seller control — but Stoch RSI signals nearing exhaustion.
Indicators:
* MACD: Bearish crossover – but histogram showing potential slowing of momentum.
* Stoch RSI: Deeply oversold and starting to turn up – signals possible bounce/retracement coming.
🔐 Key Levels
Support Zones:
* 566–567 → Short-term demand / micro CHoCH
* 560 → Highest negative GEX zone – PUT support
* 555–550 → Strong liquidity zone & 2nd PUT Wall
Resistance Zones:
* 572.5 → HVL zone and broken structure
* 580 → Gamma wall zone, strong CALL resistance
* 590–600 → Extended resistance levels for swings
🧠 GEX & Options Flow Analysis (TanukiTrade Pro)
* GEX Sentiment: 🔴🔵🔴 — Bearish skew, with a weak neutral pocket
* IVR: 26.4 → Volatility low, but near option seller zone
* IVx avg: 20.7
* PUT$%: 53.8% — Strong bearish hedging flow
* CALL Resistance: 580 → gamma ceiling
* PUT Wall:
* 560 → Highest negative NetGEX (dealer support)
* 555 & 550 → backup defense zones
* HVL: 572.5 → key flip level
📌 Current setup shows dealers are heavily short gamma below 572.5, causing negative delta pressure.
🛠️ Trade Setups
📈 Bullish Setup – Bounce from 566–567
* If SPY holds and reclaims 570 with strong bid, a move toward HVL possible
* Entry: Break and hold above 570
* Target 1: 572.5
* Target 2: 578
* Stop-Loss: Below 565
* Options Play:
* Buy Apr 3 $575 Calls
* OR Call Debit Spread: Buy $570 / Sell $580
📉 Bearish Setup – Breakdown Below 565
* Confirmed lower high and break of demand → opens trapdoor
* Entry: Below 565 with momentum
* Target 1: 560
* Target 2: 555
* Target 3: 550
* Stop-Loss: Above 570
* Options Play:
* Buy Apr 3 $560 Puts
* OR Put Spread: Buy $565 / Sell $555
🧭 Final Outlook
* Bias: Bearish → unless 572.5 HVL is reclaimed.
* SPY is caught between strong PUT support at 560 and heavy gamma ceiling at 580.
* If market sentiment worsens or macro triggers hit, 555 is the magnet zone.
* If buyers step in and hold 566+, bounce setups are likely — but it must reclaim HVL for any strength.
📛 Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Please manage your risk accordingly.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.