Outlook
We still believe SPY continues to consolidate between 209 and 210 zone. We think some events are required to break this balance. Coincidentally, there will be Non Farm Payroll data on Friday morning.
SPY Today
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| SPY 5m |
SPY started just underneath of 5SMA and squeezed higher. The volume was not bad.
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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 |
VTO suggests the trend is up and strong but it looks like STVO is rolling over.
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| SPY OI 06/03 |
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| SPY OI 06/10 |
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| SPY DWV 06/03 |
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| SPY DWV 06/10 |
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| SPY DWV 06/17 |
There was no big change in OI so it is reasonable to say SPY would continue to stay between 209 and 210 zone. SPY requires an event to break this balance.
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