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When $SPY pulls back I like these 5 levels most (explaination):
1. $720–$722 → (probability 75%)
- Almost guaranteed first test, it's the nearest broken resistance
2. $697–$700 → (probability 50%)
- Round number + prior base makes it a high-probability magnet
3. $675–$680 → (probability 35%)
- Only if macro data deteriorates and 200MA gets tagged
4. $650–$655 → (probability 20%)
- Requires a true risk-off panic, not just a garden dip
5. $630–$640 → (probability 10%)
- Black swan territory, Fed error or credit event needed
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the $SPY option contract I'd add on this dip for 200%-500%

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