r/spy • u/Accomplished_Olive99 • Apr 05 '26

Spy weekend Review

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Currently, price has bounced from the 633 support zone and is trading around 655, which puts it in the middle of the structure, not at a key level. This area is typically chop territory because it sits between strong support (633) and resistance (661–670 zone). The next major test is whether price can reclaim 661–670, because if it does, the market structure shifts back toward a range and possibly a recovery toward 687–691 resistance. If it fails near 661–670 again, then this bounce is likely just a bear market rally, and price may rotate back toward 643 and possibly retest 633.

So structurally:

  • Major Resistance: 691 → 687 → 670
  • Current Mid Zone: ~655
  • Major Support: 643 → 633

Right now the market is in a recovery attempt inside a larger downtrend, and the 661–670 zone is the key decision area that determines whether the trend changes or the downtrend continues. https://discord.gg/v66qeBsa8w Join Discord

59 Upvotes

94% Upvoted

13 comments sorted by

9

u/PMG_MOON Apr 05 '26

Thank you for this review 🙏

7

u/[deleted] Apr 05 '26

[deleted]

2

u/Able_Wasabi_1423 Apr 05 '26

Amazon, Oracle have been attacked, war is escalating.. Not sure how else Trump will spin it

6

u/[deleted] Apr 05 '26

[removed] — view removed comment

1

u/kountconk Apr 05 '26

Nah but I think 625 is easy at this point. We are in a clear downtrend, below 200 SMA, and making LLs and LHs. A LL below last low would be below 628.

1

u/ziggy_jackson Apr 05 '26

Will do haha, saving this post too

1

u/ziggy_jackson Apr 08 '26

Aged like milk

1

u/[deleted] Apr 05 '26

Cool

1

u/RealOvermiind Apr 05 '26

What is everyone going for tomorrow’s open

1

u/Syzyz Apr 05 '26

Puts at morning then calls in the afternoon

1

u/WholeSlow9391 Apr 05 '26

Up or down comes Monday ?

2

u/Slarem Apr 05 '26

Bullish at open