📈 $SPY Temporary Pause!
• Bulls took some rest today once the trendline broke lower with the pressure coming in from chips and money rotating into Small caps.
• If 580 is not reclaimed early tomorrow SPY can drop down to 577 and under we have 575.
• 575 is a good buy the dip level on SPY and I do not see anything under at the moment for OPEX week.
• Bearish engulfing on the daily. Not a good sign.
• $QQQ ISLAND BOTTOM has been dismantled by the bears. Expecting a bounce off it tomorrow.
FLOW UPDATE: $NVDA calls were picked up last few mins into close. $NVDA puts were active at the start of the day with bearish headlines hitting the wire. $AAPL calls ran hard and saw the 235C being rolled up to higher strikes. $COIN remained strong with Bitcoin Strength.
Modify on 2024-10-16 15:07
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