Is the $720–$722 Zone the Most Important Support Level for $SPY Bulls?

Michael Esther

05-16

When $SPDR S&P 500 ETF Trust(SPY)$ 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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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Now's your chance.\n🎁 We’ve selected 4 high-demand items across practial, lifestyle, and learning, now with a lower redemption threshold!\n<a href=\"https://ttm.financial/TW/554651083281352\" title=\"Hot Merch Returns · Up to 43% Off\" target=\"_blank\" class=\"\">Hot Merch Returns · Up to 43% Off</a>\n<img src=\"https://community-static.tradeup.com/news/be0283b695178d5d32f9e254ddc1d4a1\"></body></html>","htmlText":"<html><head></head><body>When <a data-mention-id=\"SPY\" class=\"teditor-mention\" data-mention-name=\"SPDR S&amp;P 500 ETF Trust\" href=\"https://ttm.financial/S/SPY\">$SPDR S&amp;P 500 ETF Trust(SPY)$</a> pulls back I like these 5 levels most (explaination):\n1. $720–$722 → (probability 75%)\n- Almost guaranteed first test, it's the nearest broken resistance\n2. $697–$700 → (probability 50%)\n- Round number + prior base makes it a high-probability magnet\n3. $675–$680 → (probability 35%)\n- Only if macro data deteriorates and 200MA gets tagged\n4. $650–$655 → (probability 20%)\n- Requires a true risk-off panic, not just a garden dip\n5. $630–$640 → (probability 10%)\n- Black swan territory, Fed error or credit event needed\n♻️RESHARE this post and make 1 comment for the $SPY option contract I'd add on this dip for 200%-500%\n<img alt=\" \" title=\" \" src=\"https://community-static.tradeup.com/news/95e677e15704ea9c024e48f4bc825724\" tg-width=\"991\" tg-height=\"647\"> \n<hr>\n😍 Been eyeing Tiger merch but short on Tiger Coins? Now's your chance.\n🎁 We’ve selected 4 high-demand items across practial, lifestyle, and learning, now with a lower redemption threshold!\n<a href=\"https://ttm.financial/TW/554651083281352\" title=\"Hot Merch Returns · Up to 43% Off\" target=\"_blank\" class=\"\">Hot Merch Returns · Up to 43% Off</a>\n<img src=\"https://community-static.tradeup.com/news/be0283b695178d5d32f9e254ddc1d4a1\"></body></html>","text":"When $SPDR S&P 500 ETF Trust(SPY)$ 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 ♻️RESHARE this post and make 1 comment for the $SPY option contract I'd add on this dip for 200%-500% 😍 Been eyeing Tiger merch but short on Tiger Coins? Now's your chance. 🎁 We’ve selected 4 high-demand items across practial, lifestyle, and learning, now with a lower redemption threshold! Hot Merch Returns · Up to 43% Off","highlighted":1,"essential":1,"paper":2,"likeSize":1963,"commentSize":0,"repostSize":78,"favoriteSize":0,"link":"https://ttm.financial/post/564751612592544","repostId":0,"isVote":1,"tweetType":1,"viewCount":4479,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":["SPY"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":true,"length":731,"optionInvolvedFlag":true,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/564751612592544"}