Outlook
We adjusted the target price for this Friday expiration to 210. Yes, a bit bullish.
Wrap Up
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| SPY 5m |
SPY opened flat this morning then tagged yesterday's low. FOMC triggered short squeeze but SPY couldn't hold the high. Volume wasn't great.
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| $NYAD |
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| $NYHL |
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| SPY:RSP |
$NYAD and SPY:RSP ratio suggest small caps are leading the market.
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| $SPX CVI |
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| $SPX STVO |
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| $SPX VTO |
CVI surged to +1σ and suggests short term overbought. STVO and VTO suggest risk on.
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| SPY OI 04/22 |
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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 |
13:27:37 0429 210.00C 49500x0.43 $2,128,500 Below Bid
Somebody sold a big block of 210C before FOMC. If this were STC (Sell to Close), then the 210C wall on OI would be lowered and SPY will lose one big resistance level. Given the momentum as well as internal, SPY will try to exceed 210 by Friday.
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