Mark

$SPY Today’s close will be important. A close below 706 can trigger more selling, while a close above means we will remain stuck in the range for a bit more, and may even test 713 again. The 4H candle that closed at 13:30 is looking very bearish but needs some follow through to confirm it or it will get invalidated. I’m done for the day since the fun seems to be over. I’ll check back later how we closed. Holding my core swing though.

What a crazy market... Just a few minutes into the open, I am seeing considerable positive gamma exposure building overhead on $SPY. Tons of positive exposure is building at $710, with support forming at $705. Let's see how data develops into the session.

In puts, i don’t trust the pump $spy $spx

$SPY I have a limit order at 10.50 to add to the 650 April 17 calls if price drops again to today’s low or to 637.

$SPY Price gave back all the overnight gains after almost touching 675. The market is clearly in a downtrend, and anyone can see that if they just zoom out a little bit and check higher timeframes. Price is trading below key SMAs on the daily and other timeframes, so I really don’t understand all the bullishness and early ATH calls on here. Spy can rip back up all the way to 688 and it’ll still be in a downtrend. I’m not shorting to be cool or to stand out for engagement, I really don’t care, I’m shorting because the market structure favours shorting based on probabilities, regardless of the outcome. The plan is the same: I’ll hold the puts I have for now (660 April 17), I’ll scale in more if we see 675, and I’ll scale in a lot more if we see 682. The main target is 660 and the extended target is 656.