$SPY Good morning. This is a difficult set up because if you zoom out the chart is bearish, but it’s occurring in a week where things tend to be bullish because of Opex. This isn’t always the case though because if memory serves me right, we had a -3% day on Opex week in December 2024, it was an FOMC week too.
I think bulls have one job to do today and it’s to close above 750. That will favour a continuation to 760. On the other hand the bears job is to close below 750 to go for the gap fill and keep the bearish set up intact.
Let’s see what we get today. I won’t even scalp today and I’ll wait for the close to have an idea of where we are at.
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