Outlook
We still believe bottoms are in, and SPY will head to max pain, or 209.50 by Friday.
SPY Wrap Up
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| SPY 5m |
Deja vu or Vuja de. SPY started with gap down and couldn't close the gap.
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| SPY Daily |
SPY is approaching 50SMA from above and this level is very important for obvious reason.
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| $NYAD |
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| $NYHL |
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| SPY:RSP |
Internal wasn't so bad. $NYADV=1194 and $NYDEC=1813.
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| $SPX CVI |
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| $SPX STVO |
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| $SPX VTO |
Both CVI and STVO declined to -1σ level and suggest rebound is imminent.
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| SPY OI 05/06 |
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| SPY OI 05/13 |
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| SPY DWV 05/06 |
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| SPY DWV 05/13 |
The wall of 205P acts as strong support. If SPY can stay above 205, more put holders will close their position tomorrow and those put selling will fuel short squeeze.
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