Outlook
SPY would keep consolidating at current level by Friday expiration unless FOMC delivers a surprise or two.
Wrap Up
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| SPY 5m |
SPY started gap up but rejected at 5SMA level while yesterday's close acted as support. Volume was anemic as investors were waiting for FOMC decision.
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| $NYAD |
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| $NYHL |
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| SPY:RSP |
Back and fill. Rotation between big caps and small caps. The market is waiting for those side lined money while digesting overbought condition at ATH level.
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| $SPX CVI |
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| $SPX STVO |
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| $SPX VTO |
Those CVI, STVO, and VTO suggest consolidation with slightly bearish bias.
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| SPI OI 04/29 |
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| SPY OI 05/06 |
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| SPY DWV 04/29 |
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| SPY DWV 05/06 |
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| SPY Option Big Trades 04/29 |
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| SPY Option Big Trades 05/06 |
Option market was dull as well today.
Now puts are build up on 05/06 expiration. That is a bullish signal for next week.
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