Outlook
Same prediction as yesterday. SPY may exceed or close to 210 by Friday's expiration, however, we will see some pause or very shallow pullback on Wednesday to digest near term overbought condition.
SPY today
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| SPY 5m |
Grinding up day. Now SPY's 5SMA is turned up, which is bullish sign, however, SPY is hovering 1% above it's 5SMA, which suggests overbought condition in very short term.
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| $NYAD |
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| $NYHL |
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| SPY:RSP |
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| $SPX CVI |
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| $SPX STVO |
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| $SPX VTO |
CVI suggests overbought condition in very short term. Bulls would like to see CVI keeps this level while consolidation.
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| SPY OI 05/13 |
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| SPY OI 05/20 |
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| SPY DWV 05/13 |
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| SPY OI 05/20 |
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| SPY option big trades 05/13 |
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| SPY option big trades 05/20 |
The spike in 05/13 OI chart is too high to see small changes in other prices, so let's analyze option charts for 05/20. It looks like bulls have slight edges for next week, as there was one $1M+ trades today.
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