Outlook
NFP report will give the market good excuse to sell, but the dip would be limited and there are strong supports at gap(205)/5SMA(204.5).
SPY today
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| SPY 5m |
Weak longs were forced to cut the position before NFP reports.
CVI/STVO/VTO and trends/overbought/oversold
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| $SPX CVI |
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| $SPX STVO |
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| $SPX VTO |
CVI and STVO suggests more upside room for short term.
SPI Options OI and Dollar Weighted Volume
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| SPY OI 04/01 |
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| SPY OI 04/08 |
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| SPY DWV 04/01 |
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| SPY DWV 04/08 |
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| SPY Options Big Trades 04/08 |
SPY Options are skewed to put side, which means bullish tomorrow. Unless NFP is really bad, SPY will be bought at the dip. Max pain is 204.50 so SPY may close at this level tomorrow.
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