SPY — Final Bear Gap Left
Key Levels
Support: 678.5 → 675.8 → 672.8 → 669
Resistance: 683 → 685 → 687.5 → 690
SPY is testing the 685 gap resistance zone, reclaiming short-term strength after bouncing cleanly from the 669 base last week. Buyers continue to defend rising EMA support — the 9EMA (yellow) is curling up and crossing above the 20EMA (blue), showing a bullish shift in short-term momentum.
A clean hold above 683 would confirm breakout continuation, opening the door for a full gap-fill move into 685–687.5, and possibly 690 if volume follows through. However, this area remains a major supply zone, so watch for signs of exhaustion or rejection before chasing. As long as SPY holds above 678.5–675.8, dips remain buyable into strength.
Trade Idea:
📈 Calls adds above 683 hold
🎯 PT 685 → 687.5 → 690
🛡️ Stop below 678.5
TRADE IDEA OF THE WEEK: $AAPL banger
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