Outlook
SPY may exceed ATH again this week but we believe SPY can't stay over 210 on Friday close. Support would be 207 area.
Wrap up
 |
| SPY 5m |
SPY opened at 209, then sold off to 208, and finally pinned at 208.98. Congrats for call sellers over 209. Now SPY sits under its 5SMA so bears could have a chance or two.
 |
| $NYAD |
 |
| $NYHL |
 |
| SPY:RSP |
While SPY stayed flat, internal was pretty good. The SPY:RSP ratio suggests small caps had strength while big caps were sold for pinning.
 |
| $SPX CVI |
 |
| $SPX STVO |
 |
| $SPX VTO |
VTO and $SPX show negative divergence while CVI and STVO show short term strength. Overall, those indicators suggest consolidation or very shallow pullback.
 |
| SPY OI 04/29 |
 |
| SPY OI 05/06 |
 |
| SPY DWV 04/29 |
 |
| SPY DWV 05/06 |
 |
| SPY Option Big Trades 04/29 |
 |
| SPY Option Big Trades 05/06 |
Open interests are skewed to call side and there are big spikes at 210 and 215. Those levels would act as strong resistances.
No comments:
Post a Comment