3/29/22 SPY Pre- Market Analysis via /r/wallstreetbets #stocks #wallstreetbets #investing

3/29/22 SPY Pre- Market Analysis

3-29-22 SPY Pre-Market

Well after yesterdays wild turn of events we are at another new day of trading SPY options this time we have a bit of a more clear direction pre market.

Currently pre-market is sitting around +0.78% with 460 being the current level of resistance. Pre-market gapping up to here is important because it needed to prevent a triple top at the 458 range.


We do have a small opening gap intraday from 456 to 456.8 that if we open here will show on the daily an even large gap from close of 456 to where ever we open. I do suspect that gap to get filled because a larger gap like that on the daily chart rarely gets left unfilled. Will be looking for a morning retrace to test support need 456-457 for a good entry for the day.


The vix has continued its trend downward and has already broke below 19! The VIX has not been below 19 since January 14th which at that time the price of SPY was 464.72 at close. If this momentum keeps up there is nothing saying VIX wont break below 18 today which could put SPY around 465 end of day today.

Spy where it sits currenty at 459.4 is only 4.3% off its all time high. Its crazy to think not even 2 weeks ago we were at a nearly 14% correction and here we are.

Like I said yesterday there just really does not seem to be anything stopping this from running back to ATH.


458  456.8 (pre market low)  455.91 (yesterdays close/ gap fill)  454.8



-1.5%= 449

-2%= 446.8


459.9  462 to 463 (as highs today IF it uses the same established resistance line it has been using)

0.5%= 458.2


1.5%= 462.7

2%= 465

All eyes wiil once again be on the VIX today.

Don’t be greedy. Learn from my mistakes yesterday

Submitted March 29, 2022 at 02:54PM by DaddyDersch
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