$574–$576 $SPY zone is a major supply wall. I
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Posted On: 05/02/2025 8:30:40 PM
$574–$576 $SPY zone is a major supply wall.
If SPY stalls or wicks hard in this zone and fails to close above ~$576
My blue scenario toward 535.29 (0.382 fib) becomes likely.
Watch for intraday false breakouts....bull traps are common near supply peaks.
On the flip side, a clean break and hold above 576–579 turns the structure short-term bullish again toward 590–600.
https://www.threads.com/@millionaire.traders....OdwiCEC-7g
If SPY stalls or wicks hard in this zone and fails to close above ~$576
My blue scenario toward 535.29 (0.382 fib) becomes likely.
Watch for intraday false breakouts....bull traps are common near supply peaks.
On the flip side, a clean break and hold above 576–579 turns the structure short-term bullish again toward 590–600.
https://www.threads.com/@millionaire.traders....OdwiCEC-7g
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