Outlook
As we predicted yesterday, SPY had some pullback, if not consolidation. Now it's getting difficult to exceed 210 by Friday expiration, we still expect SPY would climb up close to 210.
SPY today
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| SPY 5m |
It was like reverse video of yesterday. Those weak longs got stopped out and SPY closed at LOD, which was just above 5SMA. The Tuesday gap is still there so everybody would see if Monday close level works as support.
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| $NYAD |
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| $NYHL |
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| SPY:RSP |
A-D line wasn't so bad today.
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| $SPX CVI |
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| $SPX STVO |
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| $SPX VTO |
CVI and VTO are now flat while STVO advanced, that means short term momentum is slightly bullish.
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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 DWV 05/20 |
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| SPY Option Big Trades 05/13 |
Puts are building up on 05/13 OI and 205 level would work as support.
DWV chart for 20th is slightly biased to bull side. You can see bull/bear ratio by choosing DWV menu, then scrolling down the main tab. You can download the app from following links.(
Android)(
iOS)
When bull/bear ratio is mildly biased to bull side, it mostly means bullish. If bull/bear ratio is strongly biased, like more than 0.8 or less than 0.2, the expectations are extreme and market is near turning point.
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