SPY
The Market Makers (MMs) weekly implied move is $5.47
Upper range = 482.15
Lower range = 471.21
On the monthly profile we are holding and trading above January’s current VAH that currently sits at 473.98, but we are also running into resistance at December’s VAH 477.55. Remember, ATH is 479.98.
The bulls need to defend the 473.45 level (last week’s VAL). If the bulls can keep pressure above 477, we can take out ATH’s. If they fail to defend the 473 level, the next level of support on this profile is at 467.52.
The 473 level is also confirmed by the 10 and 20 simple moving average. Bulls have to defend this area if we see it. The 50 SMA currently sits at 459.08.
The free train stops here, if you want my key levels, you’ll have to hit the subscribe button! I will continue with SPY; I will also cover QQQ and some others!
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