Futures Rebound or Just Pajama Traders?

Bull or Bear

Pajama traders were at it again last night,

…… pushing futures lower on the Globex session.

All of this flies in the face of SPY block trades executed yesterday, which built a formidable layer of support and resistance that SPY traders will face this morning. Large blocks traded between 262.84 up to and including 264.70. SPY is trading at the latter zone in the pre-market session. The chart below was taken at 3:50 PM (15:50).

After the closing bell, the following levels appeared in massive blocks along 264.99. Bears need to hold this line in the sand. If price drifts up to this level today, look at the opportunity as a short, if resistance confirms.

SPY26499

Some additional trades were seen above 265.30. Watch TICK cumulative.

SPY

Keep an eye on these levels this morning.

We’ll be LIVE at 9:20 AM 

Vinny



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Vinny Gambini

Trade Fundamentals w/ Technical Analysis - CANSLIM method using high probability setups and Ichimoku Trend Analysis. Architect, Family Man and Father of three.