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