5d (edited) • 💡 Trade Ideas & Analysis
⚠️ SPY starting to show cracks
SPY is starting to lose momentum on the bigger timeframes, and there's a chance we see pullback in the upcoming month.
Right now the gamma flip point is 660. If SPY loses 660, things can start getting volatile.
Key levels to watch:
- 663 → Biggest support right now
- 662 → small support
- Below 662 → potential downside to 655, and 650
- Worst case scenario 625
📌 Takeaway:
This is the time to start reducing exposure, staying alert, and consider hedges on your long-term positions
How are you preparing if SPY starts pulling back?
🛡️ Hedging positions
📉 Reducing exposure
✋ Holding through
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⚠️ SPY starting to show cracks
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