Outlook
SPY is still on uptrend but it looks like 210 is a major resistance and many indicators suggest exhaustion. We still believe SPY would close 207-208 level on Friday.
Wrap Up
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| SPY 5m |
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| SPY OI |
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| SPY DWV 04/22 |
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| SPY DWV 04/29 |
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| SPY Option Big Trades 04/11 |
SPY recorded new ATH today but as we mentioned yesterday, it couldn't hold 210 level. Although we saw heavy call selling today, there was no major 210C selling so the OI structure would be same, which means 210 is still major resistance level for SPY.
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