The Closing Print live trading and financial blog during market hours.

The 3000 OI level remains a pivotal strike, aligning with 200d support for SPY, S&P500 Index, and Futures. All three have bounced off this support zone. Futures are (+48 points) this morning, while SPY is trading (+5.25) points above the 200d.

Chart courtesy

Forecasting a turning point for markets now gets a bit tricky as we are under the ZeroGamma/Vol Trigger levels. This infers thats puts are in control of the market, as implied volatility levels (VIX) becomes the key for signs of a turn.

SPY 60 Minute

We were focused on the May 13 reversal and oversold conditions during the LIVE session Thursday. We pointed to the last time RSI sold off at this magnitude, with the pendulum set to reverse. An eighteen-day bullish surge followed. While not a guarantee, this condition is more bullish than bearish going into the Opening Bell this morning.

Click to enlarge

SPY Daily

S&P500 Futures and SPY held the 200d for now, while VIX remains the key to any bullish follow through. RSI daily is perched atop the 50 level.

Click to enlarge

Stay open-minded. Just because SPY and S&P500 bounced at the 200d, there is still a risk of rejection. One reminded is the late February bounce that failed.

In early trading, most of our open positions are bouncing back above VWAP levels established in Thursday’s session.

We do have a position in SPXU; we will hold on to our hedges for now, just in case the markets are rejected at a short-term Fibonacci level. Watch 23.6 and 38.2% from the Tuesday highs down to a pivot low mark at the 200d.

Join us today in the trading room for our LIVESTREAM broadcastduring market hours, as we navigate the current environment. Watch, listen and trade from 9:20 AM to 4:15 PM Monday through Friday.

Happy Trading, 


Want to become a member? Check details here:

Disclaimer:  Do your Own Research

Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional investment advisor in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. Trades and or positions listed and taken from the watchlist are my own and should not be considered “advice” to enter any particular position or asset.

Investment Warnings

We would like to draw your attention to the following important investment warnings. The value of shares and investments and the income derived from them can go down as well as up; Investors may not get back the amount they invested – losing one’s shirt is a real risk; past performance is not a guide to future performance.

Live Sessions

Live broadcasts are educational in their content. Proper risk management is considered on every trade or asset mentioned. 

*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities. 

As always, the use of technical and fundamental analysis is encouraged in order to fine-tune entry and exit points to average seasonal trends. 

These mentions are stocks that we may or may not decide to trade as outlined in the watchlist. Always use a stop.